You may be eligible for an exemption from land tax for two consecutive assessment years if you own two private residential properties in transitional circumstances at midnight 30 June and:
- the property acquired second ('the second property') consists of a new home under construction or a residence under refurbishment and
- you occupy that property as your primary residence once the construction or refurbishment is completed and
- the property acquired first ('the first property') is occupied as your primary residence at 30 June before the first assessment year.
An exemption for the second property is available for two consecutive years is available if:
- you occupy the property acquired first as your primary residence while the second property is being refurbished/constructed and
- you sell the first property and deliver it to the purchaser prior to 30 June of the second assessment year and
- you acquired the second property in the financial year immediately before the first assessment year and
- you commenced or carried out construction or refurbishment of the second property in the first assessment year and
- you completed and occupied the second property as your primary residence in the second assessment year and
- no income has been derived from either property while not occupied as your primary residence.
When to submit this confirmation form
If you submitted the application form after your construction or refurbishment commenced, complete and lodge the confirmation form below after you have occupied the second property and the first property has been sold/delivered to the purchaser.
We have provisionally approved your exemption in anticipation you will meet all the eligibility criteria. If any of the conditions are not subsequently met, we will disallow the exemption and apply an exemption solely to your primary residence.
As this exemption is applied in transitional circumstances only, the Commissioner will not ‘roll forward’ the land tax exemptions to later assessment years while you own both properties.
See the ‘Land Tax Exemptions - Transitional, Newly Constructed and Refurbished Private Residences’ fact sheet.
