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.
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Details
- Published By: Phillip Browne CTA, Matthew Eakin
- Published On:1 Mar 2012
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