Valuation of Land Amendment Act 2015 (WA)

Western Australia

Valuation of Land Amendment Act 2015

Western Australia

Valuation of Land Amendment Act 2015 Contents

Western Australia

Valuation of Land Amendment Act 2015

Valuation of Land Amendment Act 2015

No. 14 of 2015

An Act to amend the Valuation of Land Act 1978.

[Assented to 15 May 2015]

The Parliament of Western Australia enacts as follows:

1.Short title

This is the Valuation of Land Amendment Act 2015.

2.Commencement

This Act comes into operation as follows —

• (a)

  sections 1 and 2 come into operation on the day on which this Act receives the Royal Assent (assent day);

• (b)

  the rest of the Act —

  • (i)

    comes into operation on 30 June 2015 if assent day is not later than that day; or

  • (ii)

    is deemed to have come into operation on 30 June 2015 if assent day is later than that day.

  3.Act amended

This Act amends the Valuation of Land Act 1978.

4.Section 4 amended

• (1)

  In section 4(1) in the definition of unimproved value:

  • (a)

    in paragraph (b)(ii)(I) delete “rent that would be payable” and insert:

     

  annual rent that would be used to calculate unimproved value under item (II) or (III)

   
  • (b)

    delete paragraph (b)(ii)(II), (III) and (IV) and insert:

     
• (II)

  an exploration licence is held under the Mining Act 1978 —

• (A)

  2.5 times the annual rent payable for the licence under that Act if it is the first year of the term of the licence; or

• (B)

  2.5 times the annual rent that would be payable for the licence under that Act if it were the first year of the term of the licence;

or

• (III)

  any other licence or a lease is held under the Mining Act 1978 — 5 times the annual rent payable for the licence or lease under that Act; or

• (IV)

  a licence or lease is held under the Petroleum and Geothermal Energy Resources Act 1967 — 2.5 times the annual fee payable for the licence or lease under that Act; or

• (VA)

  a permit or drilling reservation is held under the Petroleum and Geothermal Energy Resources Act 1967 — the annual fee payable for the permit or drilling reservation under that Act; or

   
• (2)

  In section 4(1) in the definition of unimproved value after paragraph (b)(ii)(I) insert:

   

  or