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Retirement

‘Common sense’ change to WA land tax

By Grace Ormsby · May 13 2020
Reading:
egg

Retirement

‘Common sense’ change to WA land tax

By Grace Ormsby
May 13 2020
Reading:
egg
WA land tax

‘Common sense’ change to WA land tax

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By Grace Ormsby · May 13 2020
Reading:
egg
WA land tax

Western Australian home owners who are required to move into full-time care will soon be exempt from land tax on their former residence, the state government has revealed.

The “common sense change” will be enacted from 1 July 2020, with amendments to the Land Tax Assessment Act 2002 to be introduced into Parliament at a later stage.

Land tax has traditionally not been payable on an individual’s principal place of residence.

But as the law currently stands, when an individual stops living in their home as a result of moving into full-time care, the exemption no longer applies.

Provided the home is not rented out, the government will provide the exemption to homes owned by people who have moved into permanent full-time care in a nursing home or other facility.

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WA finance minister Ben Wyatt has said the common sense legislative change will assist “vulnerable members of our community”.

“Moving into a full-time care facility is a significant life event, and by legislating this land tax exemption, we can help reduce the financial pressures on these Western Australians,” Mr Wyatt said.

‘Common sense’ change to WA land tax
WA land tax
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About the author

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

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About the author

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

Join The Nest Egg community

We Translate Complicated Financial Jargon Into Easy-To-Understand Information For Australians

Your email address will be shared with nestegg and subject to our Privacy Policy

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