Turcan Connell’s Post

Attention NSW Property Investors: Understanding Land Tax Benefits for Unit TrustsIn NSW, unit trusts can benefit from a land tax-free threshold of $1,075,000 for the 2024 tax year by qualifying as fixed trusts under the Land Tax Management Act 1956 (LTMA). To qualify, the trust deed must meet specific criteria:Beneficiaries must have present entitlement to trust income and capital, which cannot be affected by discretion in the trust deed.Only one class of units can be issued.The proportion of capital entitlement upon winding up must match the proportion of income entitlement.Non-fixed ("special") trust unit holders may not receive the full benefit of the threshold.Understanding these criteria is crucial for maximizing land tax benefits. #NSWProperty #LandTax #UnitTrusts

In this new article, Akerman Partner Daniel Miktus and Associate Trav Clark break down proposed rules governing tax abatements for residential property conversions proposed by Washington D.C.’s Office of the Deputy Mayor for Planning and Economic Development. The new rules will expand the boundaries of the eligible area and establish the conditions to receive a tax abatement, among other things. #DCRealEstate https://lnkd.in/g2S8mYM5

The New Flipping Tax Here is some important info, as always, feel free to reach out! Kenzie Brown Real Estate Team 250-961-7458 #realestateadvice #kenziebrownrealestate #royallepagecanada #houseforsale #listwithkenzie #FAQREALESTATE #realestatebuying #RealEstateExpert #bcrealestate #PrinceGeorge

With our custom-tailored approach, we secured a 19.51% reduction for this Galveston County property, saving our client $4,133 in property taxes. By treating every property as if it’s our own, we ensure maximum effectiveness in lowering your taxes. View more case studies: https://lnkd.in/gEuKw-JZ #galveston #propertytaxes #taxsavings #casestudy

We are pleased to report a 41.20% market value reduction for this Galveston county property, resulting in $4,238 in property tax savings for our client. Learn more about our tax reduction process at GillDenson.com. #galvestoncounty #propertytaxes #taxexpert #casestudy

In this edition of It depends, senior associate Tom Walrut talks about some of the planning considerations for land tax purposes in the lead up to 30 June.

If you own real estate in Florida, you should consider getting a revocable living trust if you don't already have one. Even with your home in a trust, you can still benefit from the homestead tax exemption you qualify for. #FloridaRealEstate #KnowYourOptions

If you own real estate in Florida, you should consider getting a revocable living trust if you don't already have one. Even with your home in a trust, you can still benefit from the homestead tax exemption you qualify for. #FloridaRealEstate #KnowYourOptions

Dealing with your annual land tax assessment? Despite effective planning, land tax remains a hefty burden for families and businesses with sizable land holdings. Revenue WA is not infallible, and there's a formal process in place to address discrepancies. Read the full blog to know more ~  https://lnkd.in/gmZXMVnx #westcourtaccountants #perth #perthisok #perthaccountant #melbourneaccountant #melbourne #perthvibes #perthbusiness #perthsmallbusiness #perthnetworking #familybusiness #landtax

In the realm of real estate, understanding the nuances of various taxes is essential for homeowners and prospective buyers. One common source of confusion is the distinction between "real estate taxes" and "property taxes." While these terms are often used interchangeably, they represent distinct concepts with important differences.