What is Land Tax & how to AVOID PAYING TAX | Australian Real Estate | Property Investing Australia

What does it mean to pay land tax in Australia? Well each state have different rules and there are ways to actually avoid paying it...legally of course! In this video, I not only share my 3 ways to avoid paying land tax but also, the land tax free thresholds for each state in Australia.
If you are thinking about building a large property portfolio to achieve financial freedom, then it's very important to know how Land tax works and how you can avoid paying it because it can become a major expense.
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[@PersonalFinancewithRaviSharma]

How I bought a property yielding 11% Rental yield - kzbin.info/www/bejne/pqqyZqyhq791b5I

[@ishanji321]

Hey ravi , awesome video as usual , would you be able to make video on trusts, company vs individual strategy and which is better, also how does it affect borrowing capacity Thx

[@PersonalFinancewithRaviSharma]

Thank you for watching! Glad you enjoyed it :) Shall add it to the list 🤙

[@devvylevvy3067]

@@PersonalFinancewithRaviSharma pls upload it man

[@roguetrail]

Good video, thanks. And yes a video on trusts would be interesting.

[@PersonalFinancewithRaviSharma]

Will do, thank you!!

[@ponrajk22]

Yes plz.

[@thepropertygal116]

Hi do you have a vid for trust and company owned property?

[@bakso1]

Yes please

[@steveg7337]

Great video! Also, adding to the points mentioned, there are discrepancies in land-tax laws going from state to state that can be used as part of a property investment strategy. E.g. thresholds apply to properties bought under a trust in QLD (while no threshold exists for NSW), use of fixed trusts, principal places of residences have certain exemptions/reductions in land tax payable & purchasing under an SMSF.

[@PersonalFinancewithRaviSharma]

Thanks Steve, great additions!

[@varuninnz]

PLEASE ANSWER I'm considering buying a house in VICTORIA OR QLD wherever the price is within my budget. My question is what about buying property with a family trust outside your state. For example let's say I setup a family trust in NSW. Then buy property in QLD or VIC (Melbourne) 1. Do I get charged stamp duty if it's owner occupied. Given I've purchased this property in a trust? 2. What about paying land tax? Do I pay more land tax if I buy it with a trust especially if the trust was setup in NSW.

[@jenzag7621]

Can one ask the SRO for a breakdown of how tax has been charged, if the unit isn't worth the amount being charged and fine charged by the SRO? The SRO's a law unto themselves, as they don't inform people of when and how much has to be paid?

[@wytchend]

Hi Ravi, great video & presentation style. .....Subscribed! thanks mate

[@OnTarget100]

Hi Ravi, Great videos I love the way you don't push the hardsell for your buyers agent. Informative and honest, now you've sold me. I'll be reaching out to you. Cheers

[@PersonalFinancewithRaviSharma]

Appreciate the support! 🙌🏽

[@yousufkhan6403]

Thanks Ravi for this informative video! Also, I remember once you've mentioned that you can avoid LMI even if you pay under 20% deposit. Can you please make video about it?

[@PersonalFinancewithRaviSharma]

Yes! Little known to most people so will bring out a video on this for sure!

[@yousufkhan6403]

@@PersonalFinancewithRaviSharma I appreciate your help 👍

[@PersonalFinancewithRaviSharma]

@@yousufkhan6403 No problems :)

[@jimmyholster]

Hey Ravi, I've just jumped on your channel and really loving the content, and the fact that you aren't a robot YOU HAVE PERSONALITY!! just a quick question, with units, what is the end game with these if you are investing with them? Do you have to take into account them being torn down one day from old age?

[@PersonalFinancewithRaviSharma]

Hey Jimmy! Hahaha, thanks for the kind words - I really do appreciate it :) I stay authentic and I believe my passion for this stuff starts pushing out in the videos so I'm glad you enjoy it. Not necessarily, I think the argument of houses vs units should really be about supply vs demand and uniqueness. Some of the units I hold are growing faster than my houses. I think too many people bought at the wrong time, the wrong location, the wrong asset type which has now caused most people to be on the defensive when it comes to looking at units. As long as each property purchased has a purpose, it all works out :)

[@lukeburrows7144]

How come WA is mentioned?

[@placestospacesstories]

Please do a segment on how to buy property through a SMSF and tax implications

[@NoProblemo]

@Ravi - How does Land tax thingy work with Trust and Company ?

[@Chinaaccountant]

How about the land tax for WA, e.g. Perth ?

[@sadaqahnz2666]

hi Ravi, Can you do one on land tax if buying under a corporate trustee pls.

[@PersonalFinancewithRaviSharma]

Will try and make that one soon too :) Thanks!

[@jimmyzhang0305]

Great video Ravi. I'll be interested in watching a video about advantages of buying properties under a family trust. Thanks

[@PersonalFinancewithRaviSharma]

Thank you! Good idea :) I'll start working on that video :)

[@peterdo6936]

Under company PLEASE, I really appreciate it.

[@mannylaris9925]

Well this answered my question under one of your other videos 😂 great content Ravi

[@PersonalFinancewithRaviSharma]

haha glad it helped! :) What other videos would you like to see?

[@mannylaris9925]

@@PersonalFinancewithRaviSharma I have to go through all your existing videos now and get back to you 😂

[@ABhd84]

Thanks for clearing that up!!

[@PersonalFinancewithRaviSharma]

No worries!

[@bryn24k]

great video thanks

[@williamcrossan9333]

Thanks for the vid!

[@PersonalFinancewithRaviSharma]

Thank you! 🙌🏽

[@claylegaspi8450]

Hi Ravi, i want to know if i can refund interest expense for my investment property here in Melbourne. My husband and i are still building the house and it will be available for rent by the end of July 2022. Can we include this interest expense that we've paid the bank even if it's still not rented. Thank you so much.

[@johntak1187]

* sigh * still waiting on a video about land tax via owning through a discretionary trust. I'm paying close $60k every year & it's killing my yields.

[@PersonalFinancewithRaviSharma]

Sorry about this, it is on the list of videos to make. I can explain here a little further though - it's always better to address land tax before you purchase properties so diversifying across different states. However, if someone has already purchased these properties in 1 state under their own name is when it becomes harder. The only thing I can think of is to offload properties and then purchase in other growth areas across another state. With a Trust, there is actually no threshold for "no land tax" unlike personal name. I personally am very comfortable selling assets as I am not emotionally attached to them seeing as they are just financial instruments. I'd suspect if you can offload and use that money even across other assets, the returns could work out quite well. Always best to have a chat with your accountant :)

[@AFulfilledLife]

Smash the subscribe AND smash the like button? Fine!!! Great video and awesome tips Ravi!

[@shilcrypto1329]

Hi Ravi great video! Can you do one for a trust. Thanks

[@chetanchavan346]

Hi can you give some info about wa as well

[@MoneywithDan]

Nice one!

[@piaoyab2844]

Hi Ravi, how could some investors (Steve Mcknight etc) own over 130 of properties? The land taxes they are paying will be several hundred of thousands!!

[@PersonalFinancewithRaviSharma]

Hahaha yeah that's right but it also depends on how they purchased the properties. I believe Steve didn't actually "own" 150 properties but still interesting to think about

[@hengbocaijasper2858]

Hi Ravi, thanks for your email. So I don’t need to pay land tax if I buy a house in Qld which land value is under 600K even though it is a investment property. Is that right?

[@farrentitasey1561]

Can you make a video please in regards to having the land in a trust, eg: put it in my kids name to inherit in the future, thanks mate.

[@MA-dm4xy]

Great video! What if 2 people purchase 1 property together? Is the land value split into respective interests in the property and allocated towards each persons threshold?

[@PersonalFinancewithRaviSharma]

Great question. Thank you for watching and commenting. I believe it will be split based on the % they own. Have a chat with your accountant to confirm :)

[@HairByJamesAnnabel]

unable to book a strategy call thru your website

[@ioac6534]

Hi Ravi, I have been watching your videos since last year, GREAT content!! any accountant that you recommend here in VIC would be much appreciated? And, where do I sign up for the strategy course? cheers

[@AffiliateMarketingMatrix]

Yep companies and trusts video pls

[@arjunvarma90]

Hey Mate... Thanks for a yet another great video. Does purchasing properties under corporation with a sole owner valid in Australia? Have heard about such things in US, being the world's most litigious society.

[@PersonalFinancewithRaviSharma]

Thanks so much for watching and engaging! Not entirely sure what you mean however, I know you are able to purchase properties under a company name. Tbh though, I don't really know too much about purchasing under corporations so I'll hold back from saying something wrong and therefore pointing you in the wrong direction. The best person might be an accountant to have this discussion with? Sorry I couldn't help more

[@suek.3680]

Hi Ravi I NZ resident in NSW, bought a land NSW recently this month 720k , it will my ist home, still working to built. How ever how much will be the land tax to pay next year ???

[@Rekke_yt]

Thanks Ravi 🙌🏼

[@PersonalFinancewithRaviSharma]

Thank you for watching and supporting the channel :)

[@rvsoceanofknowledge2305]

Hi Ravi ,My self Ravi Gulati ,I am working as a realtor in India from last few years and now I want to move Melbourne because one of my friend is also living there,can you tell me how can I start my real estate business there ,or work with any Good real estate company like yours, Thanks ,I have worked with Remax,and also a certified agent,so I have to do a separate course there or not ?

[@minadev1]

Purchasing trust??? how does it work?

[@PersonalFinancewithRaviSharma]

Will out up a video in the near future ✌️

[@thatsmaintenance2054]

What about WA Land tax?

[@sangitaagrawal6008]

What about Canberra?

[@VietnameseFishingAnger]

I am first buyer Land 306m2 House Price 1m100 Do i have to pay land tax ?

[@lukeweyrich8475]

Western Australia?

[@devvylevvy3067]

yes trust video pls

[@minadev1]

Hi Ravi, So it does not apply if you are buying a prebuilt house, am I right?

[@PersonalFinancewithRaviSharma]

It does :) applies to all property, new and established

[@nasivoulady]

What about Northern Territory?

[@francoiskeet2944]

Just received a bill of $32k for land tax, wish I watched this video a few years ago

[@torresnadredre6547]

Hi Ravi, Greate video!! I think QLD has a new rule to add all different states threshold if you buy in different states. Benefits for states outside of Queensland. Keep up with all the good videos Regards

[@poojarohra9707]

Hii Ravi Thanks for your great educational videos Also could you please help us to get more education in crypto, like, is that possible for us to get a course like crypto education as we have got course for real estate pls Thanks

[@mycollection6779]

Why is no one talking about ACT :(

[@minadev1]

Hello Ravi, what is ARV?

[@PersonalFinancewithRaviSharma]

Not sure what AVR? Where did you come across this?

[@rexanator6196]

"After Repaired Value "

[@PersonalFinancewithRaviSharma]

@@rexanator6196 Thanks for answering this one :)

[@CherieMatthews]

trust please

[@PersonalFinancewithRaviSharma]

Adding to the list :)

[@mohdshahnawaz3864]

Thank you so much for this valuable information Ravi. Absolutely loved this video. Would love a video on trusts :)

[@PersonalFinancewithRaviSharma]

Thank you for the kind words :) Will work towards the Trusts video for sure!

[@Samseeker74]

Wa ??? Land tax??

[@B61Mod12]

5:10 Lol! I could hear my Dad laughing from hundreds of kilometres away at the idea of a bloke purchasing a property in a woman's name. What could possibly go wrong??? Hahahahaha

[@felixthecat9027]

Just as funny, buying in the man's name, since they're no more reliable than anyone else. What could possibly go wrong ?

[@B61Mod12]

@@felixthecat9027 Don't worry your wife will buy the house in her boyfriend's name.

[@mazzdacon2134]

If you were a responsible citizen you would want to contribute by paying tax,

[@PersonalFinancewithRaviSharma]

I pay plenty of tax and I'm more than happy doing so. However, some people would like to know ways on how they can reduce their tax and hence why I made this video.

[@mazzdacon2134]

@@PersonalFinancewithRaviSharma good to hear you pay your share.

[@freespirit5130]

If our government were a responsible government they would spend our money like you spend your own money.