Print

Rates for companies and trustees

A company or trustee 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 at midnight 30 June by a company or trustee.

From 30 June 2019, if you are a foreign company or trustee of a foreign trust 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%

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 2.25 cents for each $1 more than $5,000,000

$10,000,000 or more

$187,500 plus 2.75 cents for each $1 more than $10,000,000

Example 1—Australian company

Total taxable value of $6,400,000
Tax band is $5,000,000–$10,000,000.
Tax calculation = $75,000 + (2.25 cents × $1,400,000 excess)
= $75,000 + $31,500
Tax payable = $106,500

Example 2—Foreign company

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 surcharge (2% × $50,000) = $1,000
Tax payable = $3,300

More information

Find previous land tax rates.