Land Tax Exemption Changes-Updated

On 1 February 2024 changes introduced to the Land Tax Management Act (LTMA) 1956 become effective, changing the eligibility for principal place of residence exemption for landowners (PPR exemption).

If you own less than a 25% interest in the land, and you currently receive a PPR exemption, these changes will apply to you. Refer to Revenue NSW link for further information.

Should you wish to discuss this with one of our experienced Solicitors call Solari and Stock on 8525 2700, or click here to request an appointment with one of our Commercial Team.

Infographic created by Kate Allenby in Canva.com