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Rates for absentees

An absentee is liable for land tax if the total taxable value of their land, comprising land solely owned and their share in land owned jointly with others, is $350,000 or more.

The rates below apply to the total taxable value of land owned as at midnight 30 June by an absentee.

A surcharge of 2% on taxable land valued at $350,000 or more applies in addition to these land tax rates.

This is how the surcharge is calculated:

(Taxable value – $350,000) × 2%

If you are an Australian citizen or permanent visa holder and usually reside in Australia, the land tax rates for individuals will apply.

Total taxable value

Rate of tax

$0–$349,999

$0

$350,000–$2,249,999

$1,450 plus 1.7 cents for each $1 more than $350,000

$2,250,000–$4,999,999

$33,750 plus 1.5 cents for each $1 more than $2,250,000

$5,000,000–$9,999,999

$75,000 plus 2.0 cents for each $1 more than $5,000,000

$10,000,000 or more

$175,000 plus 2.5 cents for each $1 more than $10,000,000

Example

Total taxable value of $400,000
Tax band is $350,000–$2,249,999.
Tax calculation = $1,450 + (1.7 cents × $50,000 excess)
= $2,300
Add 2% absentee surcharge = $1,000
Tax payable = $3,300