Land tax is calculated on the total value of all your taxable land above the land tax threshold, not on each individual property. If the combined value of your land does not exceed the threshold, no land tax is payable. Your principal place of residence is exempt, and other exemptions and concessions may apply.

Your liability for each year is based on the value of all land you owed on the 31 December in the previous year. You may have to pay land tax if you own, or jointly own:

  • vacant land, including rural land
  • land where a house, residential unit or flat has been built
  • a holiday home
  • an investment property or properties
  • company title units
  • residential, commercial or industrial units, including car spaces
  • commercial properties, including factories, shops and warehouses
  • land leased from state or local government.

Any changes to the land you own this year will only affect how much you pay next year. The land tax threshold for 2021 is $755,000.00.

For further information on land tax contact Revenue NSW website or contact them on 1300 136 816.

Written by Megan Johnson.

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