Land Tax: Changes to the Principal Place of Residence Exemption

24 January 2024

From 1 February 2024, persons who purchase and occupy a property but own less than 25% interest (either solely or combined) will not be entitled to the principal place of residence exemption from the 2025 land tax year onwards.

Transitional provisions may apply until the 2026 land tax year for existing homeowners, and those who purchase a property and claim the exemption by 31 January 2024.

Read more about the principal place of residence exemption.