Are you a Property Investor?
For those property investors out there, a reminder that you can still apply for land tax relief by 30 June 2021 if you are eligible.
For those that are eligible, you will receive a reduction of 25% on your 2021 land tax bill and have the ability to defer the remainder of your land tax payment until on or before 30 November 2021.
For residential property owners to be eligible, you must have provided rent relief to your tenants in line with the principles of the Support to Landlords and Tenants package between 1 January 2021 and 28 March 2021.
For commercial property owners eligible, you must have provided rent relief consistent with the Commercial Tenancy Relief Scheme.
For owner-occupiers of commercial properties to be eligible, your annual turnover could not exceed $50 million in either the 2020 or 2021 financial year, and you were eligible for and participating in the Australian Government JobKeeper Payment in the March quarter.
Full details of the land tax relief package are available here.
If you have any questions or think you may be eligible but want to discuss it further, please do not hesitate to reach out.
Thanks, and stay safe.
Todd Henderson, Client Service Manager