Land Tax Is Adjustable . Land Tax Relief How to Apply baron + associates If land tax is marked as adjustable on a property contract, it means that the land tax liability for the current financial year will be apportioned between the buyer and the seller based on the settlement date The purchaser of property may therefore be exposed to paying land tax at an inflated rate because the vendor owns other land
A Guide To Understanding Land Tax Part 1 Overview of Land Tax — Sladen Legal from sladen.com.au
50% of $10,000) at settlement as a reimbursement for that part of the year that the. The vendor pays her land tax at the beginning of the year but decides to sell the property on 30 June (i.e
A Guide To Understanding Land Tax Part 1 Overview of Land Tax — Sladen Legal Land tax is not usually adjusted under contracts for residential land and buildings 50% of $10,000) at settlement as a reimbursement for that part of the year that the. Clause 14.4 of the Contract for Sale (2019 edition) seemingly suggests that adjustable land tax payable by purchaser is quantified as though: the vendor owned no other land (clause 14.4.2), and
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