State taxes Payroll tax Land tax

Six-year land tax exemption - Maybe you need a caretaker

Source: Taxation In Australia Journal Article

Published Date: 1 Mar 2012

 

In this article, the authors discuss the practical difficulties of applying the six-year absence rule for the purposes of New South Wales land tax. This rule allows a homeowner to rent out their principle place of residence for up to six years without paying land tax. It is submitted that the operation of the rule makes it practically unworkable. Examples are provided which highlight the fact that this rule is almost nullified by pragmatic difficulties. However, one option is discussed which may go some way towards assisting with these difficulties. The rule is also juxtaposed with the capital gains tax provisions in the federal income tax law.

Sorry, this is subscriber only content.

To gain access to this material and much more - Subscribe Now.

(Note: Members can access Taxation in Australia journal articles without a Tax Knowledge Exchange subscription - please log in to access).

Already a Subscriber? Login now

Details

The material is copyright. Apart any fair dealing for the purpose of private study, research criticism or review, as permitted under the copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.

Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

The Tax Institute
(ABN 45 008 392 372 (PRV14016))

("TTI")

The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009. 

Copyright Statement

All materials provided on this site are protected by copyright and are owned by or licensed to TTI.

Except as expressly permitted by TTI or the copyright owner, any person or company who uses this site must not use, reproduce, redistribute, retransmit, publish or otherwise transfer, or commercially exploit, the materials or any information, software or other content, in whole or in part, which is available through this site.

Tags

State taxes Payroll tax Land tax 2012

Share this page