Visit the key dates for payroll tax webpage and schedule these dates in your calendar to avoid missing lodgement dates and additional costs associated with late lodgement.
Learn more about becoming a shared equity partner approved by the Chief Commissioner of State Revenue, to support home buyers in purchasing property in NSW.
When you advise us that you are selling your property, you can prevent delays in settlement. Learn how to apply for a property tax status certificate.
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What happens to property tax when you sell your property
When you sell a property subject to property tax, your liability is reduced proportionally based on the remaining days in the financial year, and you'll receive a refund where appropriate. Any outstanding property tax must be paid before or during settlement.
What you need to do when selling to prevent delays in settlement
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Advise us if you have sold your property
When selling your property, you must notify us to prevent settlement delays.
Once you've exchanged contracts, complete our property tax online enquiry form to advise us of your proposed settlement date and request a pro rata quote.
the property's identification details, such as the lot number, plan number and street address, and
whether the property is subject to property tax.
When to apply
A status certificate will need to be requested when selling a property. The seller and/or the seller’s solicitor/conveyancer must give the buyer a status certificate at least 14 days before settlement. For contracts completing settlement within 14 days, the buyer must be given a copy on the date that the contract is made.
If the status certificate shows the property is opted in to property tax, the seller must arrange payment of any outstanding tax prior to, or as part of, the settlement process.
How to apply for a property tax status certificate
There will be no changes to the existing process to apply for a certificate. The application you submit will provide for both land tax and property tax. No additional charge will be applied.
To apply for a certificate, you need to have an account with one of the following Client Service Providers:
If the vendor owns three lots in one strata plan, they’ll be processed under one certificate. If more than three lots are involved, you’ll need to lodge more than one application.
What happens next
After a request is submitted via the Client Service Provider, Revenue NSW will perform checks to determine if a land tax or property tax liability exists for that landowner
a joint response will be issued for both taxes, and
the landowner or their representative can then contact Revenue NSW where a certificate is issued as 'Not Clear' for Land Tax or 'opted in' for property tax to arrange clearance
Making structural or ownership changes to your property
Making structural changes to your property, such as constructing additional residences, or adding/removing legal land-owners can impact how your property tax is assessed.
Subdividing your land
If you want to subdivide and build duplexes and live in one, the subsequent new lots would remain subject to property tax unless a transfer of land title occurs. If any of the lots, post registration of the subdivision, were sold on, the remaining lot/s would be subject to a property tax reassessment using the amended land details to calculate the property tax liability. Please note, land details include Land Title ID, land value and land usage. See Part 8 Section 48 of the Property Tax (First Home Buyer Choice) Act 2022 for more information.
Adding a granny flat
The land on which the proposed secondary dwelling is constructed must only comprise of a single lot or parcel.
The proposed secondary dwelling must also meet the criteria as set out in the legislation to be considered as an approved excluded residence under the Act for 100% of the land to be considered owner-occupied.
It is recommended that the home owner notifies Revenue NSW via our online enquiry form within 3 months of the tenant taking occupancy of the approved excluded occupancy (documentary evidence may be required), in order to avoid the income being derived from the flat being flagged as a potential compliance case and the first home buyer’s liability for property tax being calculated at the incorrect rate.
Revenue NSW conducts regular audits, comparing customer information to data from other government agencies and businesses (for example Rental Bond Board).
Changes in ownership
Your property tax is calculated based on the percentage of the property you own as an eligible first home buyer. For example, if you bought your first home with parents who own 20% of the title, your property tax would be assessed on 80% of the land value.
When ownership changes
If your ownership percentage changes, you have 3 months to notify Revenue NSW through our online enquiry form. We'll then reassess your property tax based on your new ownership share and send you an updated notice of assessment for the remainder of the financial year.
Need extra help?
If you have a question about property tax, please contact us.
