It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
(visit the link for the full news article)
HE IS Australia's sixth richest man, but the Meriton boss, Harry Triguboff, reckons he shouldn't have to pay land tax on his "spare" house next door to his mansion.
A troupe of lawyers and a Land and Environment Court judge yesterday took a wander around his extensive $25 million harbourside compound in Vaucluse to help them decide whether he has two properties or just one.
They checked out the three bedrooms, the kitchen and the expansive lounge room of the two-storey "spare house", the agapanthus-filled gardens, the three pools, two garages and harbourside jetty - all with the aim of working out whether Mr Triguboff's consolidation of two properties onto a single title means he can avoid up to $500,000 in land tax each year.
The property tycoon, worth $3.25 billion according to the BRW Rich List, and his wife, Rhonda, have had a "spare" house for the past decade, since buying their neighbour's house for $6 million to bring their total holding to 5200 square metres.
Counsel for the Valuer-General said one foolproof way to avoid a controversy over whether someone was liable for land tax when they bought a neighbouring property was to "bulldoze" both homes and "obliterate" the boundary separating the two.