Monday, 3 July 2017

Potential Buyers Should Learn About Tax Liabilities on Land for Sale

Brisbane offers plenty of opportunities for a prospective land buyer. The population in Queensland maintains a steady upward trajectory, which means potential money making ventures for a property owner. This metropolitan city offers many good reasons to invest whether you’re in the market for commercial land for sale or some lots that you hope to build a few rentals on.

Before signing the ownership papers, however, there is one element that every buyer must factor in – land ownership taxes. At what point exactly are you expected to pay yearly taxes?

Liability of Land Tax

Australia calculates liability of tax based on the taxable value of a freehold land at midnight on the 30th of June. The amount of tax that applies in your case will depend on the kind of landowner you are. Read more from this blog.

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