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NSW Land Tax Changes

Changes to the New South Wales Land Tax laws come into effect with the reintroduction of an exemption threshold.  This is good news for NSW property investors that benefited from the recent abolishment of the Vendor Tax last year.

Just a reminder that the threshold of $330,000 for NSW land taxes was restored on January 1, 2006. In effect, this means that people with investment properties in NSW with a combined land value below $330,000 will pay no land tax, while properties with a combined land value over $330,000 will go back to being taxed at 1.7 per cent.

For full details on properties that are assessable for land tax in NSW visit the Office of State Revenue website www.osr.nsw.gov.au where you can download the Land Tax Information Booklet 2006.

- land tax

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