Two residences owned in transitional circumstances rebate
Landowners who, at June 30, have purchased a new principal residence but have not yet sold their current principal residence, may apply for a rebate (a transitional rebate) on their land tax.
Landowners may apply for the transistion rebate where the following conditions are 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;
- at least 50 per cent of the second property (the new residence) must be owned by the same owner(s) and it must have been purchased on or after 1 April;
- a contract for sale for either property must have been entered into prior to 1 October;
- neither residence must have been rented out or used to derive income during the transitional period when both were owned;
- no apportionment for land tax on the sold property between the vendor and the purchaser must have occurred; and
- an application for rebate must be lodged with the State Revenue Office no later than three months after 30 June of the next year.
How to apply
To apply for the land tax rebate: