Queensland Consolidated Acts

LAND TAX ACT 2010 - SECT 18A

18A Capped value of taxable land for 2011–12 financial year

(1) This section applies to taxable land for the 2011–12 financial year if—

(a) section 30 does not apply to the land for the 2011–12 financial year; and

(b) the land had a Land Valuation Act value for the previous financial year; and

(c) the uncapped value of the land for the 2011–12 financial year is more than 150% of the taxable value of the land for the previous financial year.

(2) The
"capped value" of the taxable land for the 2011–12 financial year is 150% of the taxable value of the land for the previous financial year.

(3) In this section—

"2011–12 financial year" means the financial year starting 1 July 2011.

"uncapped value" , of taxable land for the 2011–12 financial year, means the lesser of the following—

(a) the Land Valuation Act value of the land for the financial year;

(b) the averaged value of the land for the financial year.