Goldfarb Properties (GFP) announced it would not have to pay a property tax in DALLES if a property is held in an estate.
The company said it would apply an “excess” property tax exclusion in DALMATIS where the property has a “substantial proportion” of its assessed value as “an asset” or “instrumentality” of the estate.GFP is a property management company that has been involved in the purchase of more than 3,000 properties in Australia and New Zealand.
It owns property in the Sydney CBD, Melbourne CBD, Perth CBD and Goldfields CBD.
Goldfarb’s director of marketing and corporate communications, Scott Gough, said the exclusion would apply “where there is an exceptional circumstances” where a property has been “a significant component of an estate” and “where the property is likely to have a significant impact on the financial wellbeing of a family member or close relative”.
Mr Gough said the company had not received any inquiries about a potential property tax exemption.
Goldfarrs Property Management (GPM) will not have any property tax to pay if a Goldfarr’s Property is owned by an individual with a substantial proportion of their assessed value in an “asset” or an “invention”.GPM owns property from Perth to Goldfields in Sydney and Goldfords Goldfields property from Adelaide to Sydney.
The group is a joint venture of Goldfars Land Development and Goldfarbs property management business Goldfarms.GPM said it had received “no queries” about a property exclusion.
Goldfine Properties (GLP) will pay no property tax for the Goldfine property in Melbourne.
The owner of the property, Sarah Jones, said she would be unable to afford the additional property tax.
“It’s not just an asset, it’s a significant part of the assets that I own,” she said.
Ms Jones said she had been told by Goldfirks to contact the company for advice on how to proceed.
“There’s no obligation for me to pay property tax and I’ve always done that but it’s not an option,” she told AAP.GPO has been contacted for comment.
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