Queensland Consolidated Acts

LAND TAX ACT 2010 - SECT 27

27 Calculation of home unit company’s liability

(1) The amount of a home unit company’s liability for land tax for a financial year is the amount calculated as follows—

where—

"a" is the amount of land tax that would be payable by the company if—

(a) section 32 applied; and

(b) the average unit value was the taxable value of the taxable land owned by the company.

"b" is the number of units, other than home units, forming part of a building located on taxable land owned by the company.

(2) For this section,
"average unit value" means the amount calculated as follows—

where—

"t" is the taxable value of the taxable land owned by the home unit company.

"u" is the number of units forming part of a building located on the land.

(3) This section applies despite sections 6 (2) and 32 .