STATUTORY RULES.
1911. No. 23.
PROVISIONAL REGULATION UNDER THE LAND TAX ASSESSMENT ACT 1910.
I, THE GOVERNOR-GENERAL in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby certify that the following Regulation under the Land Tax Assessment Act 1910 should, on account of urgency, come into immediate operation, and make the Regulation to come into operation forthwith as a Provisional Regulation.
Dated this 3rd day of March, One thousand nine hundred and eleven.
DUDLEY,
Governor-General.
By His Excellency’s Command,
C. E. FRAZER,
for the Treasurer.
The Land Tax Regulations 1911 (Statutory Rules 1911, No, 8) are amended as follow:—
(i.) By inserting therein, after Regulation 8, the following Regulations:—
“Returns by Persons other than Taxpayers.
“8a. The Commissioner may, by notice in the Gazette, require all persons who, on the 30th day of June last past, were owners of land of a total unimproved value of an amount specified in the notice or upwards (not being less than £3,000) to furnish the returns which by the Act are required to be furnished by taxpayers.
“Such returns shall (except so far as is otherwise specified in the notice) be furnished in the manner and within the time prescribed with regard to returns made by taxpayers.
C.5514.—Price 3d.
“Returns by Companies.
“8b. The Commissioner may, by notice in the Gazette, require any or all Companies (whether taxpayers or not) to make either or both the following separate returns:—
(a) A return for all the land owned by the Company; and
(b) A return setting forth names and addresses of the shareholders of the Company as at the 30th of June then last past and the number of shares held by each shareholder on that date.
“Such returns shall (except so far as is otherwise specified in the notice) be furnished in the manner and within the time prescribed with regard to returns made by taxpayers.
“Nothing in this Regulation shall affect the liability of a Company to make any return required to be made by the Act or by any other Regulation.”
(ii.) By omitting from Regulation 51 the words:—“The value under (b) would be calculated on the basis of 4½ per cent. under Table I.,” and inserting in their stead the words:—“The value under (b) shall be calculated on the basis of 4½ per cent. as follows:—
(a) Where the lease is for a fixed period of years, under Table I.;
(b) Where the lease is for a life term only, under Table II. or Table III., as the case requires; and
(c) Where the lease is for a term of years, but determinable on the death of any person, under—
(i.) Table I.; or
(ii.) Table II. or Table III., as the case requires, whichever gives the lower value.
Printed and Published for the Government of the Commonwealth of Australia by j. Kemp, Government Printer for the State of Victoria.
Overview
The Land Tax Regulations 1911, enacted as Statutory Rules 1911, No. 23, were introduced under the Land Tax Assessment Act 1910 to address the need for more comprehensive reporting requirements for landowners and companies, ensuring that all relevant entities provide the necessary information for land tax assessment. This Provisional Regulation was issued by the Governor-General in Council, reflecting the urgency and importance of the amendments to the existing regulations. The policy objective of these amendments was to ensure that all significant landowners and companies, irrespective of their taxpaying status, furnish complete and accurate land ownership and shareholder information, thereby facilitating a more equitable and effective land tax system.
Scope and Application
The Provisional Regulation under the Land Tax Assessment Act 1910, as outlined in Statutory Rules 1911 No. 23, applies to both individual persons and companies that own land with an unimproved value of £3,000 or more as of the last June 30th. The Commissioner has the authority to mandate that these entities furnish specific returns, including those that detail the land they own and the shareholders of the company along with their respective shareholdings as of June 30th. These returns must be submitted in accordance with the same procedures and timelines as those required of taxpayers. The scope of the regulation is comprehensive, encompassing any company, irrespective of its taxpayer status, and it does not exempt companies from any other return obligations stipulated by the Act or other regulations. The regulation's application extends across the Commonwealth, with its provisions being enforceable nationwide. It is important to note that the regulation does not specify any exclusions but allows for modifications in the prescribed notice in the Gazette, thereby offering flexibility in its application. Additionally, the regulation amends the calculation methodology for land values under certain lease conditions, which further influences the scope of land tax assessment.
Key Provisions
The main operative sections of the Provisional Regulation under the Land Tax Assessment Act 1910 are Regulations 8a and 8b, introduced to amend the Land Tax Regulations 1911. Regulation 8a mandates that the Commissioner can require individuals who owned land with an unimproved value of a specified amount, not less than £3,000 as of June 30 of the previous year, to submit returns in the same manner and timeframe as taxpayers. Regulation 8b extends this requirement to companies, allowing the Commissioner to demand specific returns from companies, including details of all land owned by the company and information about the company's shareholders as of June 30 of the previous year. These returns must be submitted in accordance with the same procedures and deadlines as those for taxpayers, unless otherwise specified.
The Provisional Regulation imposes several obligations on the parties it governs. Individuals and companies that own land of a specified unimproved value are required to furnish detailed returns to the Commissioner. These returns must include comprehensive information about the land owned by the individual or company, as well as personal details of shareholders in the case of companies. The regulation ensures that these returns are submitted in a manner and within a timeframe consistent with those required of taxpayers, unless the Commissioner specifies otherwise. Additionally, the regulation confirms that these requirements do not alter any existing obligations for companies to make returns under the Act or other regulations.
Breaches of the requirements set out in the Provisional Regulation can lead to specific consequences. While the regulation does not explicitly detail penalties or consequences for non-compliance, it is reasonable to infer that failure to meet the return requirements could result in civil or administrative penalties under the Land Tax Assessment Act 1910 or related legislation. Such penalties might include fines or other sanctions that could be imposed by the Commissioner or relevant authorities. The precise penalties would be determined in accordance with the existing legal framework governing land tax returns and compliance.