Posted at 18:22h
in Land Tax
The Land Tax Act 2010 was introduced last year. It will potentially increase the land tax that some owners have to pay even if valuations have decreased! Anyone who has more than one investment property should take care to examine the manner in which their investments are held.The section of the Act to look out for is Section 20.
Accountants and advisors will sometimes recommend to property investors that they consider holding each investment property in a different trust. One reason for having more than one trust is so that land tax is reduced. Until 30 June 2011 this was all that was needed in order to reduce land tax. Land Tax law has changed.