Understanding your
land tax assessment
What is land tax?
Land tax is an annual tax. It is based on
the value of the land excluding the value
of any buildings or other improvements.
The 2014 assessment is calculated on your
total taxable land holdings as at midnight
on 31 December 2013.
The State Revenue Office (SRO) issues
assessments between January and
May each year.
You will be liable for land tax if the value
of your total taxable land holdings is
$250,000 or more.
Your taxable land holdings may include:
• investment,commercialorindustrial
properties
• aholidayhouse
• PrimaryProductionLand(PPL)thatis
not exempt due to its location, or
• vacantland,includingvacantruralland.
Are there exemptions from land tax?
Yes. Exemptions from land tax apply where:
• t hepropertyisyourPrincipalPlaceof
Residence (PPR) (i.e. your home). Generally,
this exemption applies if you own your
home in your name (i.e. it is not owned by
a company or held in a trust). In some cases,
this exemption can extend to trustees of
certain trusts (but not discretionary or unit
trusts) where one or more of the beneficiaries
use the land as their PPR, or
• thelandisusedforprimaryproduction.
Other exemptions are also available. Further
information about the PPR, PPL and other
exemptions can be found on our website
at www.sro.vic.gov.au (go to ‘Land Tax’,
then ‘Exemptions’).
Why am I getting an assessment?
There are a number of reasons why you have
been issued with a land tax assessment.
These may include:
• t hetotalvalueofallthepropertiesyouown
(excluding exempt land) is $250,000 or more
• youhaveacquirednewproperties
• a
previousexemptionthatappliedto
a property you own has ceased, or
• t hevalueofyourpropertyorpropertieshave
been amended.
When am I liable for land tax?
If you own land solely or jointly that has a taxable
value of $250,000 or more you must pay land tax,
unless an exemption applies.
If you own land as trustee you are required
to pay a surcharge (subject to various exclusions)
if the total value of the land holdings of the trust
is $25,000 or more, excluding exempt land.
What is the taxable value of land?
The municipal site value, which appears on your
rate notice, is used as the taxable value of land
for land tax purposes.
Municipal councils conduct general valuations
every two years. For the 2014 land tax year the
valuation used is based on the 2012 municipal
general valuation.
How is land tax calculated?
You can use the table on the next page to
calculate your land tax liability. Alternatively,
you can use our land tax calculator on our
website at www.sro.vic.gov.au
Land tax is calculated by selecting the
appropriate land tax rate from the scale of rates
and applying this to the total taxable value
of your land holdings (excluding exempt land).
For example, if your total land holdings have
a value of $280,000, you are required to pay
$335.001. This is calculated as follows:
= $275.00 + (($280,000 - $250,000) x 0.2%)
= $275.00 + $60.00
= $335.00
1
For the purpose of this example, the 2014 land tax rate has
been used.
Land tax tutorial videos
What if I own land jointly?
The SRO has developed a range of online
videos which are available on our website. The
videos cover a selection of topics to help you
understand land tax and your assessment notice.
If you own land with one or more other persons,
you are considered to be a joint owner. An
assessment notice will be issued to one of the
joint owners on behalf of all the joint owners.
Visit our website, or use the QR code scanner on
your smart phone or tablet device to view our
land tax tutorial videos.
If you are a joint owner and own other taxable
land you may also receive an individual
assessment. While land details may appear on
more than one land tax assessment, it does not
mean you will pay tax on the land more than once.
www.sro.vic.gov.au/ltxvideos
2014 Land tax rates
2014 General rates
Total taxable value of
land holdings
< $250,000
$250,000 to
< $600,000
$600,000 to
< $1,000,000
$1,000,000 to
< $1,800,000
$1,800,000 to
< $3,000,000
≥ $3,000,000
Land tax payable
Nil
$275 plus 0.2% of
amount > $250,000
$975 plus 0.5% of
amount > $600,000
$2,975 plus 0.8% of
amount > $1,000,000
$9,375 plus 1.3% of
amount > $1,800,000
$24,975 plus 2.25% of
amount > $3,000,000
To prevent double taxation, a deduction is
allowed on the individual’s assessment for their
interest in the jointly owned land.
For further details on joint ownership, refer to the Joint
Ownership brochure at www.sro.vic.gov.au or go
to our land tax tutorial video on Joint Ownership
on our website at www.sro.vic.gov.au/ltxvideos
If you have a smart phone or tablet device you
may use the QR code above to go directly to
the videos.
What if I think the details on my
assessment are incorrect?
If you believe that your land tax assessment
is incorrect, you can:
1. request an amendment to the land tax
assessment; or
2. lodge an objection to the land tax assessment.
2014 Surcharge rates for trusts
Total taxable value of
land holdings
< $25,000
$25,000 to
< $250,000
$250,000 to
< $600,000
$600,000 to
< $1,000,000
$1,000,000 to
< $1,800,000
$1,800,000 to
< $3,000,000
≥ $3,000,000
Land tax payable
Nil
$82 plus 0.375% of
amount > $25,000
$926 plus 0.575% of
amount > $250,000
$2,938 plus 0.875% of
amount > $600,000
$6,438 plus 1.175% of
amount > $1,000,000
$15,838 plus 0.7614%* of
amount > $1,800,000
$24,975 plus 2.25% of
amount > $3,000,000
*The surcharge rate tapers out for land holdings in excess
of $1.8 million. For land holdings valued at or over $3 million,
the surcharge is the same as the general rate.
Requests for amendment
Requesting an amendment is simple.
Amendments generally relate to changes of
a more straightforward nature. You can request
an amendment if you:
• wishtoupdateyourpostaladdress
• s oldlandincludedinyourassessmenton
or prior to midnight 31 December 2013, or
• c laimthattaxablelandincludedinyour
assessment should be exempt land because
it is your PPR or is exempt as PPL.
There are many options available to request
an amendment. You may:
• logontoLTXexpressontheSROwebsite
at www.sro.vic.gov.au to update your records
or to advise of new details
• completean‘Authorisationforchangeof
postal address’ form from our website
• completea‘LandTaxAmendmentForm’
(copy enclosed) with your updated details, or
• contacttheSROon132161tomakechanges
over the phone (some restrictions apply).
You will be notified of the outcome of your
request for an amendment.
Lodging an objection
If you think you have been assessed incorrectly
and you wish to formally dispute the land tax
assessment, you can object by using the ‘Land
Tax Objection Form’ which is available on our
website www.sro.vic.gov.au. The objection must
be received within 60 days after the date that you
receive your land tax assessment.
The grounds of your objection must be stated
fully and in detail and must be in writing. If your
objection is disallowed or partially allowed, you
have the right to refer the matter to the Victorian
Civil and Administrative Tribunal or to the
Supreme Court of Victoria.
For further information about the difference
between requesting an amendment and
lodging an objection, refer to our website at
www.sro.vic.gov.au (go to ‘Land Tax’ then
‘Amendments and Objections’).
Objections to valuations shown
in your assessment
You can also object to the valuation used in
your 2014 assessment by using the appropriate
‘Land Valuation Objection Form’ (available from
our website).
A valuation objection must be lodged with
the SRO within two months after the service
of the assessment. However, if you have already
lodged an objection to this same valuation with
your municipality or the SRO within the last
12 months, you cannot lodge a further objection
to that valuation.
Refer to the Land Tax Valuation Objections
page on our website for further information.
Your notification obligations
What if I own other land that is not
included in my assessment?
If you own land that does not appear in your
assessment you must notify the SRO. It is
important to note that this includes all land which
is owned by you either individually or jointly.
What if land on my assessment is wrongly
marked as exempt?
You must notify the SRO of all land listed in
your assessment that is wrongly exempted.
For example, Mary Brown owns two properties,
A and B. She receives an assessment which lists
both properties but shows property B as exempt
as a PPR. Property B is not Mrs Brown’s PPR and
therefore it is not eligible for the PPR exemption.
Mrs Brown must notify the SRO of this error.
When must I notify the SRO about land
not included in my assessment or land
that is not eligible for exemption?
A notification must be received within 60 days from
the issue date of your assessment. By notifying the
SRO we can ensure you pay the right amount of
tax at the right time. If you do not notify the SRO
within this 60 day period, penalty tax may apply.
For further details about notifying the SRO
of missing lands or incorrect exemptions in
your assessment, refer to our website at
www.sro.vic.gov.au (go to ‘Land Tax’ then
‘Notifications of Errors & Omissions’).
You can notify the SRO by:
• completinga‘LandTaxAmendmentForm’
(copy enclosed); or
• contactingtheSROon132161.
Do trustees need to notify the SRO
of lands acquired on trust?
All trustees acquiring Victorian land on trust must
notify the SRO of all land held on trust by lodging
the ‘Notice of trust acquisition of an interest in
land’ form within one month of acquisition. This
form is in addition to the general obligation to
lodge a Notice of Acquisition.
Failure to notify the SRO may result in the
imposition of penalty tax.
How do I read my assessment?
What you need to know
Customer number
Your customer number is your unique identification number for your
Your Land Tax Assessment Notice provides you with all theland
information
you need.
tax dealings with the State Revenue Office (SRO) and can be
found on the front of this assessment in the top right-hand corner.
The notice shows:
Quoting this number will give you access to information about your
land tax assessment and will enable you to make certain changes to
your details over the telephone. It is important to treat this number
as confidential.
1 customer number
Tax
Assessment
Notice
2 amount
that needs
to be paid
nd
Outstanding land tax
The tax payable shown on your assessment notice does not include
any tax liability from prior year assessments.
If your Land Tax Assessment Notice does not include an instalment
amount, payment must be made in full by the due date.
www.sro.vic.gov.au
Tax Assessment
What you need to know
Customer number
Your customer number is your unique identification number for your
land tax dealings with the State Revenue Office (SRO) and can be
found on the front of this assessment in the top right-hand corner.
Quoting this number will give you access to information about your
land tax assessment and will enable you to make certain changes to
your details over the telephone. It is important to treat this number
as confidential.
State Revenue
Office
Pleasewww.sro.vic.gov.au
quote
this number
contacting
the
MELBOURNE
VIC 3001
PHONE
13 21 when
61
EMAIL [email protected] GPO Box 1641
Outstanding land tax
SRO. No
details
will9628
be provided
or
MELBOURNE
VICupdated
3001
PHONE
13 21 61
FAX
03
6856
The tax payable shown on your assessment notice does not include
FAX
03
9628
6856
any tax liability from prior year assessments.
without this number.
sued to you on behalf of:
ANE CITIZEN
HN CITIZEN
NNE CITIZEN This notice is issued to you on behalf of:
Customer number: 012345678
Customer
number:
012345678
Assessment
number:
012345678
Please quote
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contacting
the
26 and 37 weeks from the issu
If this option is chosen, payme
instalments must be received
notice. The second, third and
when these instalments are du
and third instalment is not rec
to pay by instalments ceases i
outstanding amount.
imposed on the outstanding por
If your Land Tax Assessment Notice includes an instalment amount,
you can either:
a) Pay the full amount on the assessment notice, or
b) Pay in four equal instalments. These payments will be due 4, 15,
26 and 37 weeks from the issue date shown on the assessment.
If this option is chosen, payment of the first, second and third
instalments must be received by the due date shown on the first
notice. The second, third and fourth notices will be sent to you
when these instalments are due. If payment of the first, second
and third instalment is not received by the due date, the option
to pay by instalments ceases immediately. You must pay in full any
outstanding amount.
How you can pay
Note: Failure to pay by the due date may result in interest being
If your Land Tax Assessment Notice does not include an instalment
imposed on the outstanding portion of your land tax liability.
amount, payment must be made in full by the due date.
SRO. No
details will
be provided
updated
Please
quote
thisornumber
without this number.
when contacting the
SRO.1No
details
Issue date:
Apr
2014will be provided or updated
Assessment
number:
012345678
without
this number.
0123456 MRS JANE CITIZEN
JOHN CITIZEN
otice is issued 1234567
to youMRon
behalf of:
2345678 MISS ANNE CITIZEN
56 MRS JANE CITIZEN
67
MR JOHN CITIZEN
ALMENTS
78 MISS ANNE CITIZEN
PAY BY INSTALMENTS
State Revenue Office
EMAIL [email protected] GPO Box 1641
MELBOURNE VIC 3001
PHONE 13 21 61
Notice
FAX 03 9628 6856
Need help? Contact us.
www.sro.vic.gov.au State Revenue Office
Need EMAIL
help?
Contact
us.012345678 GPO Box 1641
Customer
number:
[email protected]
MR X
1001 University
MRDrive
X
1001VIC
University
Drive
MOUNT HELEN
3350
MOUNT HELEN VIC 3350
you can either:
a) Pay the full amount on the ass
b) Pay in four equal instalments.
3 payment
options, on the back of your
notice
How you can pay
Note: Failure to pay by the due d
14 Land Tax Assessment Notice
Need help? Contact us.
MR X
001 University
DriveLand
2014
MOUNT HELEN VIC 3350
If your Land Tax Assessment No
Issue date: 1 Apr 2014
nt: $13,050.001st instalment: $13,050.00
Due
& payable by: 29 April 2014
ble by: 29 April
2014
Assessment number: 012345678
PAY IN FULL
PAY IN FULL
Total taxTotal
payable:
$52,200.00
Issue
date: 1 Apr 2014
tax payable:
$52,200.00
Due & payable
12 August
20142014
Due & payable
by:by:12
August
If you choose to pay by instalments, you will be required to make the four instalment payments. It is important to make each
payment
the due
listed. If payment
is notthe
received,
all outstanding
tax will
be due and payable
andto
interest
pay by instalments,
youbywill
be date
required
to make
four
instalment
payments.
It is immediately
important
make each
may be charged on any outstanding balance.
ue
listed. If payment is not received, all outstanding tax will
be IN
dueFULL
and payable immediately and interest
BYdate
INSTALMENTS
PAY
2nd instalment: $13,050.00
3rd instalment: $13,050.00
4th instalment: $13,050.00
1st instalment:
on
any outstanding
balance.$13,050.00
nstalment:
$13,050.00
Total tax payable:
$52,200.00
Due & payable by:
29 Apr 2014
& payable by:
29 April 2014
Due & payable by:
15 Jul 2014
Due & payable by:
30 Sep 2014
Due & payable by:
16 Dec 2014
Due & payable by:
12 August 2014
2nd instalment: $13,050.00
3rd instalment: $13,050.00
4th instalment: $13,050.00
$13,050.00
PAYMENT
OPTIONSby:
& payable
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choose
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you will be Visa
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is important
or MasterCard
Bpay
Electronic funds transfer
15
Jul
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30
Sep
2014
16 Dec
2014immediately and interest
Customer
number:
41894134
Reference:
Biller
code:
5249
nt by the due date listed. If payment is not received, all outstanding tax will be due and
payable
®
Reference: 66395405
e charged on any outstanding balance.
TIONS
Reference: 69592098
Online: www.sro.vic.gov.au
Phone: 13 21 61
• Transaction fee of 0.33% applies
• Maximum of $50,000 per transaction
66395405_069892457
BSB No: 033222
Account No: 170110
2nd instalment: $13,050.00
3rd instalment: $13,050.00
4th instalment: $13,050.00
stalment: $13,050.00
Paul Broderick
Visa or MasterCard
Electronic funds
transfer
Revenue
Due
& payable
by:
Due & payable
by: Commissioner of State
Due
& payable by:
&
payable by:
Customer
number:
41894134
Reference:
249
See
reverse
for
payment
options
Please
detach
remittance
slip
and
return
with
payment
15 Jul
2014
30 Sep 2014
16 Dec 2014
r 2014
Reference:
69592098
66395405_069892457
395405
Online: www.sro.vic.gov.au
Phone: 13 21 61
MENT OPTIONS • Transaction fee of 0.33% applies
PAY ONLINE
State Revenue Office
BSB No: 033222
Account No: 170110
PAY BY PHONE
State Revenue Office
PAYby
IN PERSON
Pay
credit card (MasterCard
or Visa)State
onRevenue
13 21 Office
61.
Present this notice intact to
PAY ONLINE
PAY BY PHONE
Pay by credit card (MasterCard
State Revenue
State Revenue Office
or Office
Visa) at www.sro.vic.gov.au
Pay by credit card (MasterCard
Pay by credit card (MasterCard
or Visa) at www.sro.vic.gov.au
or Visa) on 13 21 61.
or MasterCard
• Maximum Visa
of $50,000
per transaction
Electronic funds transfer
Paul Broderick
Customer number: 41894134
Reference:
Commissioner of State Revenue
Reference: 69592098
66395405_069892457
Online: www.sro.vic.gov.au
BSB No: 033222
See reverse for payment options
Please
detach
remittance
slip
and
return
with
payment
Phone: 13 21 61
Account
No: 170110
• Transaction fee of 0.33% applies
• Maximum of $50,000 per transaction
Bpay ®
Biller code: 5249
Reference: 66395405
Bpay
Bpay ®
Please see overleaf for biller code
Please see overleaf for
and reference number. Contact your
andfor
reference
banking provider
Bpay access. number.
®
Bpay ®
Please see overleaf for biller code
biller code
and reference number. Contact your
Contact
your
banking
provider
for Bpay access.
banking provider for Bpay access.
Paul Broderick
Electronic funds transfer
Provide payment date, lodgement
reference and amount paid via
email to [email protected]
Electronic funds
or fax (03) 9628 6857.
Commissioner of State Revenue
PAY BY MAIL
Mail your payment slip and a
cheque payable to “State Revenue
Level 2/121 Exhibition Street,
Melbourne. Payments by cash, cheque
and credit card only. See website for
Bpay ® counter hours.
Please Bank
see overleaf for biller code
Complete the
payment slip
(overleaf) your
and reference
number.
Contact
and present assessment intact with
banking
provider
foratBpay
access.
your
cash or cheque
any bank.
Banks
other than Westpac may charge a fee.
NOTE: This payment is not subject
to GST – Federal Treasurer’s
Office Victoria” to GPO Box
2961 BY MAIL Determination 2000. (Exempt taxes,
PAY
transfer
fees and charges).
MELBOURNE VIC 3001.
Mail your payment slip and a
Provide payment date, lodgement
cheque payable to “State Revenue
reference and amount paid via
Office Victoria” to GPO Box 2961
email to [email protected]
MELBOURNE VIC 3001.
or fax (03) 9628 6857.
See reverse for payment options - Please detach remittance slip and return with payment
4 list of properties you own
5 taxable value of each property
Statement31ofDecember
lands owned as at midnightAssessment
31 December
2013
number 012345678
at midnight
Statement of lands owned as 2013
at midnight 31 December 2013
Page 3
State Revenue
Offi
ce
Victoria.
2, 121Street,
Exhibition
Melbourne 3000
State Revenue
Offi
ce Victoria.
LevelLevel
2, 121 Exhibition
MelbourneStreet,
3000
on Street, Melbourne
3000
Please refer to the Summary of Assessment page for an explanation of codes.
Please refer to the Summary of Assessment page for an explanation of codes.
for an explanation
of codes.
Item No. Address/ Municipality
Land ID/ References Single Holding Tax*
1 Address/
Boneo Road,
123456789
Item No.
Municipality
Flinders
3929ID/ References
L34567
Land
Single Holding012Tax*
MORNINGTON
1
Boneo
Road, PENINSULA
123456789
$1,725.00
2
Sandy
Point Road,
012345679
Flinders
3929
Somers 3927
012 L34567PENINSULA
MORNINGTON PENINSULA
MORNINGTON
2
Sandy Point Road,
012345679
$475.00
Somers
3927
MORNINGTON PENINSULA
Assessment number 012345678
Page 3
Proportional Tax**
Assessment number 012345678
Page 3
Taxable Value
$1,725.00
$1,201.14
750,000
Land ID/ References
Single
Holding Tax*
Proportional Tax**
Taxable Value
123456789
$1,725.00
$1,201.14
750,000
$475.00
350,000
012 L34567 $2,573.86
Proportional Tax**
Taxable Value
$1,201.14
750,000
012345679
$2,573.86
$2,573.86
350,000
350,000
$475.00
Total Taxable Value
$1,100,000
PAY IN P
St
Pr
Le
M
an
co
Ba
Co
an
yo
ot
N
to
De
fe
How do I pay my land tax?
otice includes an instalment amount,
There are a number of ways you can pay your
land
tax assessment. These options are listed
ue date shown
on the assessment.
ent of the first, second and third
theon back
of your assessment notice.
by the due on
date shown
the first
sessment notice, or
These payments will be due 4, 15,
fourth notices will be sent to you
ue. If payment of the first, second
Payments must be made by the due date that
appears on the front of your notice.
ceived by the due date, the option
immediately. You must pay in full any
date may result in interest being
Some taxpayers have the option of paying the tax
in four equal instalments over 37 weeks.
rtion of your land tax liability.
However, failure to pay an instalment on time
will result in the withdrawal of the instalment
option immediately and payment must then
be made in full.
Where can I get further information
about land tax?
Website
www.sro.vic.gov.au
Email
[email protected]
(Attn: Land Tax)
Phone
13 21 61 (local call cost)
Fax
03 9628 6856
PERSON
tate Revenue Office
resent this notice intact to
evel 2/121 Exhibition Street,
Melbourne. Payments by cash, cheque
nd credit card only. See website for
ounter hours.
State Revenue Office
GPO Box 1641
MELBOURNE VIC 3001
ank
omplete the payment slip (overleaf)
nd present assessment intact with or DX 260090 MELBOURNE
our cash or cheque at any bank. Banks
Mail
ther than Westpac may charge a fee.
In person State Revenue Office
Level 2, 121 Exhibition Street
Melbourne Victoria
NOTE: This payment is not subject
o GST – Federal Treasurer’s
etermination 2000. (Exempt taxes,
ees and charges).
For SRO counter service hours, please
visit www.sro.vic.gov.au/counter
People from non-English speaking backgrounds
If you need help and want to talk to a Customer
Service Officer in your preferred language, you
can phone the Translating and Interpreting
Service (TIS) on 13 14 50 for help with your call.
PD2013/234 ©