Land Tax Amendment Act 2002 (Qld)

Queensland LAND TAX AMENDMENT ACT 2002 Act No. 30 of 2002

Queensland LAND TAX AMENDMENT ACT 2002 TABLE OF PROVISIONS Section Page 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 2 Commencement. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 3 Act amended . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 4 Replacement of ss 9AA–9AB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 9A Rebates. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Amendment of s 13 (Land exempted from tax) . . . . . . . . . . . . . . . . . . . . . . 5 6 Amendment of s 16 (Taxpayer to furnish returns) . . . . . . . . . . . . . . . . . . . . 5 7 Amendment of s 62 (Application of certain amendments) . . . . . . . . . . . . . . 5

Queensland Land Tax Amendment Act 2002 Act No. 30 of 2002 An Act to amend the Land Tax Act 1915 [Assented to 6 August 2002]

s1 4 Land Tax Amendment Act 2002 The Parliament of Queensland enacts— s4 No. 30, 2002 1 Short title This Act may be cited as the Land Tax Amendment Act 2002 . 2 Commencement This Act is taken to have commenced on 1 July 2002. 3 Act amended This Act amends the Land Tax Act 1915. 4 Replacement of ss 9AA–9AB Sections 9AA to 9AB— omit, insert — ‘9A Rebates ‘ (1) A taxpayer, other than a prescribed taxpayer, is entitled to a rebate of the tax assessed to be payable by the taxpayer for a financial year of an amount equal to 15% of the tax. ‘ (2) A prescribed taxpayer is entitled to a rebate of the tax assessed to be payable by the taxpayer for a financial year if the amount of the taxable value is $150 000 or more but less than $215 000. ‘ (3) The amount of the rebate mentioned in subsection (2) is the amount equal to 36% of the tax less 0.5% for each $1 000 that the taxable value is more than $150 000. ‘ (4) In this section— “prescribed taxpayer” means a taxpayer who is— (a) an individual in the capacity of trustee; or (b) a company or absentee, whether or not in the capacity of trustee.’.

s5 5 s7 Land Tax Amendment Act 2002 No. 30, 2002 5 Amendment of s 13 (Land exempted from tax) (1) Section 13(1)(i) to (k), ‘$100 000’— omit, insert — ‘$150 000’. (2) Section 13(1)(j), ‘relevant unimproved’— omit, insert — ‘taxable’. 6 Amendment of s 16 (Taxpayer to furnish returns) Section 16(1)(a), ‘$100 000’— omit, insert — ‘$150 000’. 7 Amendment of s 62 (Application of certain amendments) Section 62(1) and (2)— omit, insert — ‘This Act, as amended by the Land Tax Amendment Act 2002 , applies to land tax levied for the financial year beginning on 1 July 2002 and each later financial year.’. © State of Queensland 2002