I've turned my principal place of residence into investment property. Do I need to inform State Revenue Office? Or will they find out and send me the bill for land tax?
(not that I'm eager to receive the bill, but just don't want to get penalised for not informing them)
Housing shortage - blame the government
You need to let them know
+1. All states have cross-checking with other government areas, and will apply penalties plus interest when they catch you.
Need to let them know within 60 days. They calculate the tax for the year following based on it's status December 31.
In the same situation. How do you inform them though? There's no option to do so in SRO.
The only suitable option in the checklist is remove property, and when you try to it asks you what's the reason for removing. Converting into a rental property isn't listed as one of the reasons.
lol i actually just got it in the mail today….they sent me a letter. It says I need to register for My Land Tax, log in and pay assessment
I called up earlier
So they said you need to make a call to remove your nominated address as a PPOR exemption. Fixed up straight away on the phone, pretty quick and easy
Why is there a housing shortage - because of this exact thing.
It's cheaper to hold onto your second house than it is your first.