Received a letter in the mail yesterday with a land tax bill from SRO of $793 for the period of 1/1/15 - 31/12/15.
I am unsure why I am being stung the land tax charge as to my understanding a PPOR is exempt from any land tax. If anyone can enlighten me as to why I?m being charged it would be greatly appreciated. Will be discussing with SRO this afternoon also.
IP1:
- Purchased 2011.
- Never used as PPOR
- Taxable value noted as $149,000
Taxable value below $250,000 therefor land tax charge should be NIL?
IP2: (Now PPOR)
- Purchased May 14?
- Statement of adjustments at settlement noted land tax from 1/1/14 - 31/12/14 as $373. (purchaser allows 218 days)
- FHO stamp duty reduction was claimed through SRO on the condition that the property would become my PPOR within the first 12 months of ownership which I noted as starting 27/2/15. The property however become my PPOR on 9/1/15.
Am I wrong to assume I should not be getting charged a land tax on my now PPOR from 9/1/15? I would have thought I would only be charged a land tax for the period between 1/1/15 - 9/1/15 as it was still an IP during this period..
One mistake I have made is not notifying SRO of my move in date from 27/2/15 to 9/1/15 as tenants vacated earlier than previously noted. I am hoping this can be amended.
Thanks in advance.
I am unsure why I am being stung the land tax charge as to my understanding a PPOR is exempt from any land tax. If anyone can enlighten me as to why I?m being charged it would be greatly appreciated. Will be discussing with SRO this afternoon also.
IP1:
- Purchased 2011.
- Never used as PPOR
- Taxable value noted as $149,000
Taxable value below $250,000 therefor land tax charge should be NIL?
IP2: (Now PPOR)
- Purchased May 14?
- Statement of adjustments at settlement noted land tax from 1/1/14 - 31/12/14 as $373. (purchaser allows 218 days)
- FHO stamp duty reduction was claimed through SRO on the condition that the property would become my PPOR within the first 12 months of ownership which I noted as starting 27/2/15. The property however become my PPOR on 9/1/15.
Am I wrong to assume I should not be getting charged a land tax on my now PPOR from 9/1/15? I would have thought I would only be charged a land tax for the period between 1/1/15 - 9/1/15 as it was still an IP during this period..
One mistake I have made is not notifying SRO of my move in date from 27/2/15 to 9/1/15 as tenants vacated earlier than previously noted. I am hoping this can be amended.
Thanks in advance.