SRO Land Tax Investigations

Lombardi Partners are experiencing an influx of Land Held On Trust Investigation Notices from the SRO, where they are questioning the accuracy of information they are using to assess land tax for trust landowners.

The Land Tax Act 2005 contains special rules for trusts and sets out a surcharge rate of land tax, higher than the general land tax rate, if the total land value is between $25,000 and $3 million.

The State Revenue Office (“SRO”) is currently running a compliance program to ensure its records are accurate and that land tax is being appropriately paid in relation to land held on trust.

Click here to read more about how these investigations may affect you.

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