Rates and Land Tax Regulations 1992 (ACT)

AUSTRALIAN CAPITAL TERRITORY

Regulations 1992    No. 71

Rates and Land Tax Regulations

The Australian Capital Territory Executive hereby makes the following Regulations under the Rates and Land Tax Act 1926.

Dated 27 May 1992.

ROSEMARY FOLLETT

Minister

BILL WOOD

Minister

Citation

1.  These Regulations may be cited as the Rates and Land Tax Regulations.

Interpretation

2.  In these Regulations, unless the contrary intention appears—

“Act” means the Rates and Land Tax Act 1926.

Exemption from land tax

3.  (1)  For the purposes of paragraph 22B (1) (f) of the Act, the following purposes are prescribed:

(a)the occupancy of land leased by a religious institution or order for the purposes of providing residential accommodation to a member of the institution or order as his or her principal place of residence and enabling the member to perform his or her duties as a member of the institution or order;

(b)the occupancy of a unit by a shareholder of a corporation as his or her principal place of residence, being a unit that is on land leased before 1 February 1970—

(i)by a body incorporated before that date; and

(ii)for the sole purpose of providing residential accommodation for the shareholders of that corporation.

(2)  In subsection (1)—

“corporation” and “unit” have the same respective meanings as in the Unit Titles Act 1970;

“leased” does not include sub-leased.

Application

4.  Regulation 3 applies in relation to the financial year commencing on 1 July 1991 and each subsequent financial year.

Note

1. Notified in the ACT Gazette on 2 June 1992.

©  Australian Capital Territory 1992