Land tax is an annual tax levied at the end of the calendar year on property you own on 31 December that is above the land tax threshold. Your principal place of residence is exempt, and other exemptions and concessions may apply.
 
If you buy or sell a property, land tax is based on the settlement date not the contract/exchange date.

Have you purchased a property in 2023? Are you registered for Land Tax?

Did you sell a property since 1 January 2022? Have you notified Revenue NSW?

Are you selling (settling) on a property within the first two weeks of January 2023?

You can apply for an early issue Assessment from 12 December 2022.

If you have bought or sold property and would like assistance with your Land Tax Obligations please contact us here.

Payments of Land Tax

Payment Plans are available from January 2023 if you are unable to pay your land tax in full. 

Discounts of 0.05% are available for early payments (payment made within 30 days of the notice being issued
.Foreign land tax surcharge has been increased from 2% to 4%.

Thresholds

The general land tax threshold for 2023 has been increased to $969,000. The Premium threshold has been increased to $5,925,000.

Note that the thresholds do not apply to some trusts.

How Land Tax is Calculated

Land tax is calculated by:

• General threshold: $100 plus 1.6 per cent of land value above the threshold, up to the premium threshold.
• Premium threshold: $67,364 plus 2 per cent of land value above the threshold.

If you have any questions, get in touch here.