Is there a property tax in Australia?

People have been consulting about the payment of property tax in Australia, but in fact, many people don't fully understand the property tax. The so-called property tax is a kind of property tax levied on the property owner according to the taxable residual value or rental income of the house. Then there will be a taxation method here. Regarding the annual payment of Australian property tax, the following introduction hopes to help you.

How much is the Australian property tax paid every year?

In Australia, if you buy an apartment and live by yourself, the property tax will be less, because the land value occupied by the apartment building is shared by all apartment owners on the ground, so it is rarely shared, and the land value shared by many apartments in your name has not reached the threshold of land tax, so you don't have to pay it. In addition, there is no rental income from living by oneself, which avoids the tax basis that needs to be levied in this respect.

When buying or renting a villa, the owner has to pay land tax and income tax every year. Land tax rates vary from state to state in Australia. Take three states for example.

(1) New South Wales (Sydney): land worth 387,000 Australian dollars is not taxed; 387,000-2.366 million Australian dollars will be charged at 1.6%, and the excess will be charged at 2%.

(2) Victoria (Melbourne): A cumulative tax system is implemented. As long as the land value exceeds A $250,000, it will be taxed at the cumulative tax rate.

(3) Brisben: land with a value of less than 600,000 Australian dollars is not taxed; The excess shall be taxed at the cumulative tax rate.

In addition, for the collection of land tax, Australian States will also collect additional land tax from overseas people. To avoid paying extra land tax, you need to live in Australia for a long time. The most objective criterion is to live in Australia for more than 6 months in a natural year (65438+1 October1to 65438+February 3 1), and it is best to pay special attention. But please also pay attention to whether this will affect your tax resident status.

As far as rent is concerned, it belongs to your income in Australia, so personal income tax will be levied according to your income. Australian property tax is levied annually and paid in installments (the tax payment period shall be stipulated by the people's governments of all provinces, autonomous regions and municipalities directly under the Central Government). For the property appraised by price, if the house price is 6,543.8+10,000 yuan, the local regulations stipulate that the property tax shall be paid quarterly, and the annual tax shall be 654.38+ 0.2%, and the 300 yuan shall be paid quarterly. If it is paid from the rent, the tax rate is 12%. When paying quarterly, as long as the rental income of the current tax is multiplied by the tax rate, it is the taxable amount.

The above is an introduction to the annual payment of Australian property tax. If you have any questions, you can consult online through the website and let professional Australian house purchasing consultants answer them for you.

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