Special land tax is a one-off tax charged in certain circumstances where land that has been exempt from land tax ceases to be exempt land. However, if the exemption ceased on or after 16 December 2020, special land tax does not apply.
Special land tax is different from BTR special land tax, which relates to the build-to-rent land tax concession and absentee owner land tax exemption. BTR special land tax can apply after 16 December 2020.
If special land tax does apply, it is charged at a rate of 5.0% of the taxable value (site value) of the land and is imposed on the date that the land ceases to be exempt.
If you are an absentee owner, you will be charged either:
- 7.0% if the land ceased to be exempt from 2020
- 6.5% if the land ceased to be exempt from 2017, and
- 5.5% if the land ceased to be exempt in 2016.