Land Tax (Adjustment) Act 1984 (Qld)

27 AN-'-" - ANN O T CESIMO SECU M)O ELIZABE '-..-'. -.-, . - ' A E SECUND A E . E N No. 5 of 1984 An Act relating to the taxable value of lands for the purpose of assessing , levying and recovering land tax [PASSED THIRD R EADING 21ST DECEMBER , 1983; ASSENTED TQ 6TH JANUARY, 1984]

28 Land Tax (Adjustment) Act 1984, No. 5 BE IT ENACTED by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Assembly of Queensland in Parliament assembled , and by the authority of the same , as follows:- 1. Short title . This Act may be cited as the Land Tax (Adjustment) Act 1984. 2. Application of Act. (1) In respect of the assessment, levy and recovery of land tax pursuant to the Land Tax Act1915-1982 for the financial year begun on 1 July, 1982 and for each subsequent financial year, this Act applies in respect of land (or any parcel thereof) which is valued by a complete valuation of an Area proclaimed in force, on and from a date (hereinafter in this Act called the " relevant date ") that is 30 June, 1982 or a date that is subsequent to 30 June, 1982. (2) Save as prescribed by subsection (1), this Act does not apply in respect of the assessment, levy or recovery of land tax. 3. Interpretation . (1) In this Act unless the contrary intention appears- Area " means the Area of any Local Authority constituted under the Local Government Act 1936-1983 including with respect to the Brisbane City Council, the Area of the City of Brisbane; " complete valuation of an Area " means a valuation made by the Valuer-General of the unimproved value of all lands in an Area; " former unimproved value ", in relation to any land, means the valuation which was the unimproved value thereof for the purposes of the Land Tax Act1915-1982 at midnight on 30 June next preceding the relevant date or where an amount or aggregate is prescribed by section 5 to be the former unimproved value of any land for the purpose of this Act, such amount or aggregate; " fresh unimproved value ", in relation to any land, means the valuation thereof made by a complete valuation of an Area proclaimed in force on and from a relevant date; " valuation increase ", in relation to any land, means the amount arrived at by subtracting the former unimproved value of that land from its fresh unimproved value. (2) A reference in this Act to a valuation made by the Valuer-General which has been duly objected to under Part VI of the Valuation of LandAct1944-1980 shall be read as a reference to that valuation according to the decision of the Valuer-General upon the objection or, if there was an appeal against that decision, according to the final determination of that appeal. 4. Unimproved value of land for purposes of Land Tax Act. (1) Where a complete valuation of an Area has been proclaimed in force on and from a relevant date then, for the purpose of calculating for the

Land Tax (Adjustment) Act 1984, No. 5 29 purposes of the Land Tax Act1915-1982 the taxable value of any land which was valued by that complete valuation the unimproved value thereof, notwithstanding the fresh unimproved value, shall be- (a) if the fresh unimproved value is not greater than one and one half times the former unimproved value, the fresh unimproved value; (b) if the fresh unimproved value is greater than one and one half times the former unimproved value- (i) as at 30 June first occurring after the relevant date-one and one half times the former unimproved value or the former unimproved value plus one fifth of the valuation increase, whichever is the greater; (ii) as at 30 June second occurring after the relevant date- twice the former unimproved value or the former unimproved value plus two fifths of the valuation increase, whichever is the greater; (iii) as at 30 June third occurring after the relevant date-two and one half times the former unimproved value or the former unimproved value plus three fifths of the valuation increase, whichever is the greater; (iv) as at 30 June fourth occurring after the relevant date- three times the former unimproved value or the former unimproved value plus four fifths of the valuation increase, whichever is the greater; (v) as at each subsequent 30 June-the fresh unimproved value: Provided that where the amount calculated pursuant to the formula first mentioned in subparagraph ( i), (ii), (iii ) or (iv) of paragraph (b) is equal to the amount calculated pursuant to the formula second mentioned in that subparagraph the unimproved value of the land concerned shall be that amount: Provided further that where the unimproved value of the land as determined pursuant to paragraph (b) exceeds its fresh unimproved value the unimproved value of that land shall be its fresh unimproved value. (2) Where the relevant date is a 30 June in any year then for the purposes of this section that 30 June shall be deemed to be the 30 June first occurring after the relevant date. 5. Calculation of former unimproved value where no such value. (1) In this section- " present parcel " means a parcel of land which existed as such at midnight on the relevant date; " original parcel " means a parcel of land which existed as such at midnight on 30 June next preceding the relevant date. (2) Where solely by reason of subdivision, sale, conveyance, transfer, partition or other like cause which occurred between midnight on 30 June next preceding the relevant date and midnight on the relevant date, there is not a former unimproved value of a present parcel, the former

30 Land Tax (Adjustment) Act 1984, No. 5 unimproved value of that parcel shall be the amount or the aggregate of the amounts of the former unimproved value or former unimproved values of the original parcel or original parcels wholly or partly comprised in the present parcel. For the purposes of this subsection the former unimproved value of an original parcel or original parcels partly comprised in a present parcel shall be a sum calculated as follows:- (a) Where part of one original parcel is comprised in the present parcel- Area of part of original parcel) comprised in present parcel L X Area of original parcel J Former unimproved value of original parcel (b) Where parts of 2 or more original parcels are comprised in the present parcel- Total area of parts of originall parcels comprised in present ^ parcel -x Total area of original parcels J Total of the former unimproved values of original parcels 6. Adjustment of tax. Where land tax has been assessed by the Commissioner of Land Tax on the taxable value of land pursuant to the Land Tax Act1915-1982 and that taxable value is affected by reason of this Act the Commissioner shall adjust the amount of the tax assessed to conform with the taxable value of the land as so affected and if the tax assessed has been paid shall- (a) refund the amount in excess of the amount as so adjusted; or (b) where land tax is owing by the taxpayer, offset any amount in excess of the amount as so adjusted against the amount of tax owing and, where the amount in excess of the amount as so adjusted is greater than the amount of tax owing, refund the amount of the difference.