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LAND TAX ACT 2010 - SECT 26
What is a home unit
(1) For this division, a
"home unit" is a unit used as the home of— (a) the owner of the unit; or
(b) if the owner of the unit holds the owner’s shares in the home unit
company in trust—all beneficiaries of the trust.
(2) However, subsection
(3) applies if— (a) a unit that is trust property of a trust (
"trust 1" ) is used as the home of all beneficiaries of the trust; and
(b) a
beneficiary of trust 1 is a prescribed relative of a beneficiary of another
trust (
"trust 2" ); and
(c) the trust property of trust 2 includes— (i) a
home unit forming part of any building; or
(ii) exempt land used as the home
of all beneficiaries of trust 2.
(3) The unit mentioned in subsection (2) (a)
is not a home unit unless the commissioner is satisfied that trust 1 and
trust 2 were not established by or on the instructions of the same person.
(4) If a home unit is also used for a non-exempt purpose— (a) the
commissioner must apportion the use of the unit between use as a home and use
for non-exempt purposes, having regard to— (i) the proportion of the gross
floor area of the unit used for each purpose; and
(ii) the extent to which
each proportion is used for the purpose; and
(b) the fraction equivalent to
the proportion of the unit used for non-exempt purposes must be used for
calculating the value of
"b" for section 27 .
(5) For this section, part 6 , division 1 , subdivision
2 applies to a unit— (a) as if references in the subdivision to land, a
residential area on land, and a residence on land, included a reference to a
unit; and
(b) as if the reference in section 36 (2) (f) to the person’s
acquisition of the land were a reference to the person’s acquisition of
shares in the home unit company; and
(c) with any other necessary
modifications.
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