At present the Northern Territory does not subject landowners to any form of land tax. This exemption extends to foreign individuals and corporate entities. Although, residents of the Northern Territory are obligated to pay Stamp Duty on the acquisition of a home, land or a business property.
There appears to be a growing interest from the Northern Territory government to introduce some form of land tax. It is expected that through the need to widen the revenue base that the Territory Government will implement some form of land tax. We are a team of professional and affordable business tax advisor Sydney providing a complete range of accounting, taxation and business services to clients throughout Australia.