1. I let a property on 1 July 2014 for $30,000 per month. Rates for the 3 quarters to 31 March 2015 paid by me amounted to $12,000. How is Property Tax computed for 2014/15? Do I have to pay Provisional Property Tax for 2015/16?

	$
Rent for 9 months ($30,000 x 9)	270,000
Less: rates paid by owner	(12,000)
	258,000
Less: 20% allowance for repairs and outgoings	(51,600)
Net assessable value (NAV)	206,400
2014/15 Property Tax @15%	30,960

Calculation of Provisional Property Tax for 2015/16 is based on the NAV for 2014/15, but grossed up to 12 months, as follows:

	$
Estimated NAV ($206,400 [see above] x 12 / 9)	275,200
2015/16 Provisional Property Tax @15%	41,280

You will receive a Property Tax demand note that carries two components:

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