The NSW state budget includes a change to principal place of residence exemption for holders of retirement visa (subclass 405 or 410) from the 2020 land tax year.
Principal place of residence exemption
From 1 July 2019, the following visa holders will be exempt from surcharge land tax on their principal place of residence if they occupy their home for a continuous period of 200 days in the current land tax year:
- permanent visa holders
- New Zealand citizens who hold a special category visa (subclass 444)
- partner (provisional) visa holders (subclass 309 or 820)
- holders of retirement visas (subclass 410 and 405)
Dates to remember:
- You must apply for the exemption by 31 March in the relevant tax year.
- This principal place of residence exemption does not apply to the 2017 tax year.
- Exemptions for retirement visas apply from the 2020 land tax year.
Register for land tax
Exemptions and concessions: use of land
Additional land tax exemption and concessions may apply depending on the use of the land, including:
- boarding houses
- low cost accommodation
- residential parks
- retirement villages
- primary production land
- childcare centres.