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Rates for companies and trustees

A company or trustee (of a trust or superannuation fund) 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.