Land Tax (Amendment) Act 1970 (NSW)

LAND TAX (AMENDMENT) ACT.

ANNO UNDEVICESIMO

E L I Z A B E T H S II REGIJNS

BE

Act No. 64, 1970.

A n Act to al leviate the incidence of l and t ax in ce r t a in

respects a n d to r educe the a m o u n t p a y a b l e b y

w a y of l and t a x ; for these p u r p o s e s to a m e n d the

L a n d T a x M a n a g e m e n t Act , 1956, a n d t h e

L a n d T a x Ac t , 1956; a n d for p u r p o s e s c o n n e c t e d

therewi th . [Assented to , 19th N o v e m b e r , 1970.]

D E it enacted by the Queen's Most Excellent Majesty, by
and with the advice and consent of the Legislative
Council and Legislative Assembly of New South Wales in

Parliament assembled, and by the authority of the same, as

follows: —

1.       (1) This Act may be cited as the "Land Tax (Amend­

ment) Act, 1970".

(2) This Act shall be deemed to have commenced pn the first day of November, one thousand nine hundred and seventy.

1. The Land Tax Management Act, 1956, is amended—

(a)	(i)	by omitting from paragraph (e) of subsection three of section nine the word "sixty-nine" and by inserting in lieu thereof the word "seventy";
(ii)	by omitting from the same paragraph the words "twenty-four thousand dollars" wher­ ever occurring and by inserting in lieu thereof the words "thirty thousand dollars";

(iii)   by omitting from the same paragraph the words "thirty-two thousand dollars" and by inserting in lieu thereof the words "forty thousand dollars";

(b) by omitting from paragraph (p) of subsection one of section ten the word "seventy-one" and by insert­ ing in lieu thereof the word "seventy".

3. The Land Tax Act, 1956, is amended by omitting subsection ( I B ) of section three and by inserting in lieu thereof the following subsection : —

(1B) Notwithstanding the provisions of this or any other Act, the amount of land tax payable on land used for primary production by any owner in respect of the period of twelve months commencing on the first day of November in the year one thousand nine hundred and seventy or any succeeding year shall be the amount which but for the provisions of this subsection would otherwise be assessed under subsection one of this section less—

(a)	where all the land owned by the owner is land used for primary production—a deduction equal to one-fifth of such amount;
(b)	where part only of the land owned by the owner is land used for primary production—a deduction equal to the sum of the following amounts—

(i)   an amount which bears the same propor­ tion to the deduction which would be applicable under paragraph (a) of this subsection if all the lands owned by the owner were used for primary production as the taxable value of that part of the land used for primary production bears to the total taxable value of all the lands owned by him; and

(ii) an amount which bears the same propor­ tion to the deduction which would be applicable under subsection (1A) of this section if none of the lands owned by the owner were used for primary produc­ tion and the owner were an owner to whom the said subsection (1A) applies as the taxable value of such part of the lands as is not land used for primary production bears to the total taxable value of all the lands owned by him.

The amendments made by this Act shall not affect the liability of any person to pay land tax incurred before the first day of November, one thousand nine hundred and seventy, in accordance with the provisions of the Land Tax Management Act, 1956, and the Land Tax Act, 1956, and such persons shall be liable to pay any such tax in all respects as if this Act had not been enacted.

4.

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