27 Grange Road, Cheltenham, Victoria, Australia, 3192

Assisting Clients to Prosper

Land Tax

With current data matching processes and 2016 being the most recent year of valuation, land tax has been
a common topic of interest with our clients. Some have been wondering if they should be paying it and others
wondering why they are being charged it.

Below is a listing of the most common questions we receive about land tax.

What is Land Tax?

Land Tax is a state tax on the total value of all Victorian property you own less any exempt land over $250,000.
In the case of trustees, the threshold is $25,000

What is exempt land?

Exempt land is your own home, primary production land and land used by charities.  Investments properties and
holiday homes are not exempt from land tax even if they are vacant.

When is Land Tax calculated?

Land tax is calculated at midnight on the 31 December each calendar year.

How is Land Tax calculated?

Every second year, the local council conduct a valuation on each property within its municipality.  The valuation is known
as a site valuation and only reflects the unimproved value of the land ie not including any improvements such as buildings.

The councils also use this information to calculate their municipal rates.

The Land tax is calculated by applying the appropriate tax rate to the site value of all your land holdings (excluding exempt land such as your home)

Why do I have to start paying Land Tax?

You may have bought additional land during the year that is not exempt, land that was previously exempt may no longer
be exempt or land that you own in Victoria may have increased in value and taken you over the land tax threshold which is currently $250,000.

Need additional information?

Please call the office for an appointment








Ross Wadeson Accountants Blog

View all blog posts

Comments from our clients

  • "Hi Ross, I just thought that I should tell you that Monty has been helping me with a problem I had with Gracott over the past few months. In this time, his help has been well above what would normally be considered normal for an accountant's role. I have been very grateful for his assistance. …… I thought I should pass this on to you personally."
    - Jill Miglietti, Bervic Engineering Co Pty Ltd
  • "Thanks for the business valuation I am very happy as was my Solicitor with this, the valuation was quite detailed and you went into great detail showing the different methods used in calculating the value also supplying figures to substantiate your calculations. Great work thanks."
    - Jon Everitt, Signarama Moorabbin
  • "It is refreshing to see that your understanding of property transactions and your proactive approach goes much further in depth compared to an average accountancy practice. My recommendation to our clients to seek your expert advice would be without hesitation and encouraged!"
    - Michael Libman, Director (Licensed Estate Agent) Property Choice Pty Ltd
  • "The Planning Session: The process was very good in assisting us to clarify our personal and business goals and objectives. In our case, with each of us running separate businesses, it was particularly helpful in highlighting the directions we were both heading, and where simplification could be applied to create more efficient management..."
    - Kevin Ezard Aquarian Developments (Aust) Pty Ltd - Marketing and Consulting
  • "Many thanks for your work this year. A friendly and efficient company. Our contact with you over the many years of our association has been a pleasure and we look forward to continuing this in the future."
    - Linda and Ray Eades - Carpentry Business and Super Fund
  • "Thank you very much for your help to me and Damian recently. The matter discussed has now been concluded. We feel very fortunate to have you not only as our account but also as our trusted friend."
    - Veronique Moloney – Long standing client

View all testimonials

Contact / Connect