Synopsis:
Property Tax (Part 2): What is Taxable, the Principles of Assessment & the Important Dates (Objection/Appeal)
In this part, the matters or things (i.e. house, land, building and tenement) that may be subject to property tax are discussed. In addition, the carve-out in section 2(3) which excludes certain qualifying machinery from property tax assessment, is also discussed. There are various principles governing the assessment of annual value (namely, independent assessment, hypothetical tenancy and rebus sic stantibus). They are discussed in this session. Lastly, there are important dates that have to be borne in mind, in dealing with property tax. These dates are discussed in this session.
Part 1 of this series is titled: Property Tax (Part 1): What is “Annual Value” & the Methods of Assessment of Annual Value
It is recommended to view both parts of this series in sequence.
Intended For:
A fundamental course suitable for all Accounting, Tax and Audit Professionals. Accountants who deal with expenses and outgoings pertaining to the management of properties, and those who are interested to ensure that they are not paying excessive Property Tax are encouraged to attend.
Competency Mapping: