Land tax in Super fund

Does anyone know how land tax is treated for a property you hold in a SMSF.

Does it get taxed "stand alone" or aggregated to any other properties you hold outside your SMSF.

Thank you for any information.
Elka

I suddenly realised that land tax is a state tax.

I was specifically refering to Victoria though the federal government may have made a rule about this that all the states need to follow?.

its a dirty Labor Tax.

crc_error. Land tax is a nasty tax whoever levies it.

Elkam - the Super Fund if it holds the property in its own right (or via a Trustee of course) will be liable for any Land Tax.

Thank you for your reply MattR.

I went to the SRO website for extra info.

2005-06 State Budget Information - Land Tax Trusts Provisions

It seems that a super fund is an excluded trust which means that it will not be liable for the land tax surcharge which is levied agains normal trusts. A small mercy.

Elka

Regarding VIC land tax, I recently had a client's 2006 and 2007 Land Tax assessments overturned and reduced to $0 simply by nominating the super fund as a unit holder (land was held by a related unit trust at the time of the assessments).

Regarding QLD land tax, I was recently talking to a valuer from Herron Todd White who indicated something about unimproved land values working on three year rolling averages, with the next round of assessments there is expected to be a large jump.

I would be interested if anyone knows about this in more detail.