An anomaly in the land-tax legislation will result in people being hit for a whole year’s land tax even if they hold a rental property for a few days in the new financial year.
The president of the Landlords’ Association, Peter Jansen, said yesterday that he knew of a case of a woman who had sold her property, but as settlement was scheduled for July 3, she would be hit for the whole year’s tax of $1000.
The legislation assessed tax for the whole year on the basis of ownership on July 1. Mr Jansen called for quarterly assessment.
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