Landowners who, at June 30, have purchased a new principal place of residence but have not yet sold their current principal place of residence, may apply for a rebate (a transitional rebate) on their land tax.

Land tax would normally be payable for the residence not being used as a principal place of residence on 1 July of the tax year

Landowners may apply for the transitional rebate whether or not the land tax has actually been paid.

From 1 July 2008, the transitional rebate is available where the owner of 50% or more of the original residence also owns 50% or more of the new residence.

The following conditions must be met:

• A contract for sale for the new residence must have been entered into on or after 1 April of the year immediately prior to the current tax year;
• A contract for sale for the original residence must have been entered into prior to 1 October in the current tax year;
• The original residence and the new residence must not have been rented out or used to derive income during the transitional period for which both were owned;
• No apportionment of consideration for land tax on the original residence between the vendor and the purchaser must have occurred;
• An application for rebate must be lodged with the State Revenue Office no later than 30 September of the following tax year.