The ACT Landlords Association has called for the introduction of quarterly assessment of land tax, saying the present system is unjust.
The president of the association, Peter Jansen, said yesterday that under the present system assessment for the whole year is determined according to the state of the dwelling on July 1.
So if a tenancy ended on July 2 and the owner moved back in, the owner would have to pay land tax for the whole year.
He advised people buying new houses or leasing houses to be wary of land tax at this time of year. For example, people buying might own two houses at once for a brief time, but if that time included July 1, they could be up for a whole year’s tax.
“”The tax could be easily assesses quarterly as quarterly accounts are sent out by the ACT Revenue Office,” he said. “”There would be no difference in the total revenue to the ACT Revenue as what it lost in some cases it would pick up in others, but it would be more equitable and socially just.”
He also called for an exemption of land tax for properties under $160,000 in line with NSW.