Rates and Land Tax Amendment Act 2002 (ACT)

Rates and Land Tax Amendment Act 2002

Act 2002 No 16

Contents

Page

1. Name of Act  2

2. Commencement  2

3. Act amended  2

4. Imposition
   Section 13 (1)  2

5. New section 13A  2

6. Imposition and assessment of rates—certain parcels of land in city area
   Section 22GM (2)  3

7. Section 22GM (2)  3

8. Section 22GM (4)  4

9. New section 22GMA  4

10. Imposition and assessment of land tax
    Section 22GN (2) (b)  5

11. Section 22GN (2)  5

12. New section 25  6

Rates and Land Tax Amendment Act 2002

Act 2002 No 16

An Act to amend the Rates and Land Tax Act 1926

Notified under the Legislation Act 2001 on 13 June 2002

(see Legislative Assembly for the Australian Capital Territory enacts as follows:

1. Name of Act

   This Act is the Rates and Land Tax Amendment Act 2002.

2. Commencement

   This Act commences on 1 July 2002.

   NoteThe naming and commencement provisions automatically commence on the notification day (see Legislation Act 2001, s 75).

3. Act amended

   This Act amends the Rates and Land Tax Act 1926.

4. Imposition
   Section 13 (1)

   omit

   the operation of section 24A

   substitute

   sections 24A (Unit subdivisions) and 25 (Unit subdivisions—interim rating system 2002-2003)

5. New section 13A

   insert

13AImposition—interim rating system 2002-2003

1. Section 13 does not apply in relation to the year beginning 1 July 2002.

2. For the year beginning 1 July 2002, rates are imposed for a parcel of rateable land in accordance with the formula:

R ´ 1.029.

1. In this section:

   R means the rates that would, apart from subsection (1), be imposed under section 13 for the parcel of land if the average unimproved value of the parcel of land were taken to be the average unimproved value of the parcel for the year beginning 1 July 2001.

2. This section is subject to sections 24A and 25.

3. This section expires on 1 July 2003.

4. The Legislation Act 2001, section 88 (Repeal does not end transitional or validating effect etc) applies to this section.

5. Imposition and assessment of rates—certain parcels of land in city area
   Section 22GM (2)

   omit

   following subsection

   substitute

   following subsections

6. Section 22GM (2)

   omit everything after

   the following formula:

   substitute

   .

(3A)    In this section:

AUV means the average unimproved value of the parcel of land.

NRP means the percentage of the development or intended development that is to be used for non-residential purposes, being the percentage specified in a determination, or the latest of 2 or more determinations, under section 22GL.

RP means the percentage, as so specified, of the intended development that is to be used for residential purposes.’.

1. Section 22GM (4)

   omit

   section 22GM

   substitute

   section 22GM or 22GMA

2. New section 22GMA

   insert

22GMACertain parcels of land in city area—interim rating system 2002-2003

1. Section 22GM (2) does not apply in relation to the year beginning 1 July 2002.

2. This section applies to a parcel of land if—

   (a)it is a qualifying parcel of land in the city area; and

   (b)the average unimproved value of the parcel of land for the year beginning 1 July 2001 was greater than $19 000.

3. For the year beginning 1 July 2002, rates are imposed for the parcel of rateable land in accordance with the formula:

R ´ 1.029.

1. In this section:

   R means the rates that would, apart from subsection (1), be imposed for the parcel of land under section 13, as applied by section 22GM (2), if the average unimproved value of the parcel of land were taken to be the average unimproved value of the parcel for the year beginning 1 July 2001.

2. This section expires on 1 July 2003.

3. The Legislation Act 2001, section 88 (Repeal does not end transitional or validating effect etc) applies to this section.

4. Imposition and assessment of land tax
   Section 22GN (2) (b)

   omit

   following subsection

   substitute

   following subsections

5. Section 22GN (2)

   omit everything after

   the following formula:

   substitute

   AUV ´ NRP.

(3AB)  In this section:

AUV means the average unimproved value of the parcel of land.

NRP means the percentage of the development or intended development that is to be used for non-residential purposes, being the percentage specified in a determination, or the latest of 2 or more determinations, under section 22GL.’.

1. New section 25

   insert

2. Unit subdivisions—interim rating system 2002-2003

3. This section applies to a parcel of land to which section 24A would, apart from subsection (2), apply.

4. Section 24A (3A) does not apply in relation to the year beginning 1 July 2002.

5. For the year beginning 1 July 2002, rates are imposed for a unit that is part of a parcel of land subdivided into units and common property in accordance with the formula:

R ´ 1.029.

1. In this section:

   R means the rates that would, apart from subsection (2), be imposed under section 13, as applied by section 24A (3A), if the average unimproved value of the parcel of land were taken to be the average unimproved value of the parcel for the year beginning 1 July 2001.

2. This section expires on 1 July 2003.

3. The Legislation Act 2001, section 88 (Repeal does not end transitional or validating effect etc) applies to this section.

Endnote

Republications of amended laws

For the latest republication of amended laws, see align="center">[Presentation speech made in Assembly on 9 May 2002]

I certify that the above is a true copy of the Rates and Land Tax Amendment Bill 2002 which was passed by the Legislative Assembly on 4 June 2002.

Clerk of the Legislative Assembly

© Australian Capital Territory 2002