Yesterday I went back to calculate my land tax, I found that I have to increase 15% of the current rent charge which can help me balance out the tax. it is a joke, 5 % might be able to absorbed, 15% have to be pass on.
so rent is getting up in sydney now...
to you guys if you have not think about the land tax, have a look, you might need to pay a lot extra tax the bob carr this year.
used to have a threshold, but now, Nil threshold, so even you got one, and just pay off the interest of the bank, you still have to pay $2000 land tax. a lot of people are try to retire upon that kind little investment after they pay off fully the bank. now...
THE THRESHOLD IN MELBOURNE IS ONLY ABOUT A$140,000, SO THE THREESHOLD DOESN'T WORKS AT THE HOUSE PRICE IN THIS DAYS. NOW, FOR THAT LITTLE MONEY, IT EVEN HARDLY EFFORT A BED-ROOM FLAT.