Land Tax Amendment Act 2014 (ACT)

Land Tax Amendment Act 2014

A2014-36

An Act to amend the Land Tax Act 2004

The Legislative Assembly for the Australian Capital Territory enacts as follows:

1. Name of Act

   This Act is the Land Tax Amendment Act 2014.

2. Commencement

   This Act commences on 1 October 2014.

   NoteThe naming and commencement provisions automatically commence on the notification day (see Legislation Act, s 75 (1)).

3. Legislation amended

   This Act amends the Land Tax Act 2004.

4. Imposition of land tax
   Section 9 (2)

   substitute

   (2)The appropriate rate of land tax for a parcel of land is the amount worked out for the parcel as follows:

FC + (AUV × P)

1. Section 9 (4) and note

   substitute

   (4)In this section:

   AUV means the average unimproved value of the parcel of land under the Rates Act 2004.

   FC means  the fixed charge determined under the Taxation Administration Act, section 139 for the parcel of land.

   P means the percentage rate determined under the Taxation Administration Act, section 139 for the parcel of land.

   NotePower to determine a fixed charge or percentage rate under the Taxation Administration Act includes the power to determine a different charge or rate for different matters or classes of matter (see Legislation Act, s 48).

2. Multiple dwellings
   Section 15 (3)

   substitute

   (3)In working out the land tax payable for the parcel of land under section 9 (Imposition of land tax), the AUV of the parcel of land is the amount worked out as follows:

(3A)In working out the land tax payable for the parcel of land under section 9 (Imposition of land tax), the FC for the parcel of land is the amount worked out as follows:

1. Section 15 (4), new definition of FC

   insert

   FC means the fixed charge determined under the Taxation Administration Act, section 139 for section 9 (4), definition of FC.

2. Land partly owned by corporation or trustee
   Section 16 (2)

   substitute

   (2)In working out the land tax payable for the parcel of land under section 9 (Imposition of land tax), the AUV of the parcel of land is the amount worked out as follows:

(2A)     In working out the land tax payable for the parcel of land under section 9 (Imposition of land tax), the FC for the parcel of land is the amount worked out as follows:

1. Section 16 (3), new definition of FC

   insert

   FC means the fixed charge determined under the Taxation Administration Act, section 139 for section 9 (4), definition of FC.

2. Unit subdivisions—land tax
   Section 27 (5)

   substitute

   (5)In working out the land tax payable for the parcel of land under section 9 (Imposition of land tax), the AUV of the parcel of land is the amount worked out as follows:

Endnotes

1. Presentation speech

   Presentation speech made in the Legislative Assembly on 5 June 2014.

2. Notification

   Notified under the Legislation Act on 22 August 2014.

3. Republications of amended laws

   For the latest republication of amended laws, see certify that the above is a true copy of the Land Tax Amendment Bill 2014, which was passed by the Legislative Assembly on 14 August 2014.

   Clerk of the Legislative Assembly

   © Australian Capital Territory 2014