It makes me sad that when my parents die I will probably have to sell the holiday house.
How the **** am i meant to afford the land tax on my wage?
And its like a tiny house, non renno'd its not like its worth much at all.
It would be worth the value of the land it's on, basically.
These are the Land Tax Rates:
< $50,000 | Nil |
$50,000 to < $100,000 | $500 |
$100,000 to < $300,000 | $975 |
$300,000 to < $600,000 | $1350 + 0.3% of amount > $300,000 |
$600,000 to < $1,000,000 | $2250 + 0.6% of amount > $600,000 |
$1,000,000 to < $1,800,000 | $4,650 + 0.9% of amount > $1,000,000 |
$1,800,000 to < $3,000,000 | $11,850 + 1.65% of amount > $1,800,000 |
$3,000,000 and over | $31,650 + 2.65% of amount > $3,000,000 |