NSW Land Tax
 

Does anybody else here (in NSW) own an investment property?

I have just received in the mail a letter from the Office of State Revenue, stating that I need to pay land tax on my investment property.

It has almost got to the point where the tax benefits of investment properties is disappearing.

This year the state government has added:
1. no lower threshold on land tax
and
2. stamp duty when selling investment property

It makes me mad - my wife and I worked hard to be able to afford a second mortgage to buy an investment, and all I'm seeing now is more money going out the door :(

Bloody state government :mad: :mad:

State governments suck serious arse. I can't say I know much about that sort of thing, but I've heard stories from a couple of mates with houses and it sounds woeful. State govs just pluck money from anywhere with justification (eg. Stamp Duty) and never seemed to be questioned.

My biggest bone with State govs is there reliance on poker machine revenue. Here's a situation where thousands of Australians, most of whom are the ones who can afford it least, are destroying their lives with a lethal addiction, and the State govs, especially Victoria, refuse to do shit about it cause they can't afford to do without the revenue.

Sorry, dont know much about it.

It annoyed me enough to write a letter to the Premier - I think the outcome will be a "nice" letter back, but no change otherwise. At least it made me feel better :/

Fantastic work. They have to respond to every letter, so god speed! I read somewhere that members if Parliament treat every letter they recieve like it's from 10,000 voters, so the more letters the better.

They haven't sent me or my accountant any notice - yet.

I read a while back that Bob Carr has invested in Auckland real estate rather than NSW!!!