Land Tax Flashcards
1
Q
What is the current (2024) threshold for land tax?
A
equal to or greater than $50,000 of victorian land owned (not included exempt land)
2
Q
What land is exempt from land tax?
A
Home (PPOR)
Your farm - primary production land (PPL)
Rooming houses and charitable institutions
3
Q
What are the 2024 land tax changes being introduced?
A
The threshold for value of victorian land will now start at $50,000 and up to $100,000 will form a flat rate of $500
$100,000 - $300,000 = $975 flat rate
$300,000+ is $975 + an increased rate of land tax by 0.1 percent to current percentages
