Who pays Land Tax under the Contract?
Pursuant to the terms of the standard REIQ Contract land tax is payable by the Seller for the current land tax year as at the settlement date.
TIP: It is not ordinarily possible for the Seller to recover from the Buyer the portion of land tax attributable to the period following settlement unless the standard Contract has been amended to allow this.
(ALSO READ:)
GST Withholding Law
Buyers Guide
Sellers Guide
Learn more about Land Tax today, contact Ownit Conveyancing on 1300 553 750
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