Schedule 1—Land tax rates
Sections 35(1), 36(3), 37(3)
Part 1—General rates of land tax
1.1 Land tax for 2006
The rate of land tax for 2006 is set out in Table 1.1.
Sch. 1 cl. 1.1 (Table 1.1) amended by No. 22/2007 s. 7(1)(a).
Table 1.1
|
Column 1 |
Column 2 |
Column 3 |
---|---|---|---|
|
$ |
$ | |
1. |
0 |
200 000 |
Nil |
2. |
200 000 |
540 000 |
$200 and 0·2% of the taxable value that exceeds $200 000 |
3. |
540 000 |
900 000 |
$880 and 0·5% of the taxable value that exceeds $540 000 |
4. |
900 000 |
1 190 000 |
$2680 and 1% of the taxable value that exceeds $900 000 |
5. |
1 190 000 |
1 620 000 |
$5580 and 1·5% of the taxable value that exceeds $1 190 000 |
6. |
1 620 000 |
2 700 000 |
$12 030 and 2·25% of the taxable value that exceeds $1 620 000 |
7. |
2 700 000 | |
$36 330 and 3·5% of the taxable value that exceeds $2 700 000 |
Note
Clause 5 of Schedule 3 has transitional provisions capping certain land tax increases in 2006.
Sch. 1 cl. 1.2 (Heading) amended by No. 22/2007 s. 7(1)(b).
Sch. 1 cl. 1.2 substituted by No. 38/2006 s. 8(1), amended by No. 22/2007 s. 7(1)(c).
1.2 Land tax for 2007
The rate of land tax for 2007 is set out in Table 1.2.
Sch. 1 cl. 1.2 (Table 1.2) amended by No. 22/2007 s. 7(1)(d).
Table 1.2
|
Column 1 |
Column 2 |
Column 3 |
---|---|---|---|
|
$ |
$ | |
1. |
0 |
200 000 |
Nil |
2. |
200 000 |
540 000 |
$200 and 0·2% of the taxable value that exceeds $200 000 |
3. |
540 000 |
900 000 |
$880 and 0·5% of the taxable value that exceeds $540 000 |
4. |
900 000 |
1 190 000 |
$2680 and 0·8% of the taxable value that exceeds $900 000 |
5. |
1 190 000 |
1 620 000 |
$5000 and 1·2% of the taxable value that exceeds $1 190 000 |
6. |
1 620 000 |
2 700 000 |
$10 160 and 1·8% of the taxable value that exceeds $1 620 000 |
7. |
2 700 000 | |
$29 600 and 3% of the taxable value that exceeds $2 700 000 |
Sch. 1 cl. 1.3 (Heading) amended by No. 31/2008 s. 19(1)(a).
Sch. 1 cl. 1.3 repealed by No. 38/2006 s. 8(2), new Sch. 1 cl. 1.3 inserted by No. 22/2007 s. 7(2), amended by No. 31/2008 s. 19(1)(b).
1.3 Land tax for 2008
The rate of land tax for 2008 is set out in Table 1.3.
Table 1.3
|
Column 1 |
Column 2 |
Column 3 |
---|---|---|---|
|
$ |
$ | |
1 |
0 |
225 000 |
Nil |
2 |
225 000 |
540 000 |
$250 and 0·2% of the taxable value that exceeds $225 000 |
3 |
540 000 |
900 000 |
$880 and 0·5% of the taxable value that exceeds $540 000 |
4 |
900 000 |
1 620 000 |
$2680 and 0·8% of the taxable value that exceeds $900 000 |
5 |
1 620 000 |
2 700 000 |
$8440 and 1·3% of the taxable value that exceeds $1 620 000 |
6 |
2 700 000 | |
$22 480 and 2·5% of the taxable value that exceeds $2 700 000 |
Sch. 1 cl. 1.4 (Heading) amended by No. 22/2021 s. 30(1).
Sch. 1 cl. 1.4 inserted by No. 31/2008 s. 19(2), amended by No. 22/2021 s. 30(2).
1.4 Land tax for 2009 to 2021
The rate of land tax for each of the years from 2009 to 2021 is set out in Table 1.4.
Table 1.4
|
Column 1 |
Column 2 |
Column 3 |
---|---|---|---|
|
$ |
$ | |
1 |
0 |
250 000 |
Nil |
2 |
250 000 |
600 000 |
$275 and 0·2% of the taxable value that exceeds $250 000 |
3 |
600 000 |
1 000 000 |
$975 and 0·5% of the taxable value that exceeds $600 000 |
4 |
1 000 000 |
1 800 000 |
$2975 and 0·8% of the taxable value that exceeds $1 000 000 |
5 |
1 800 000 |
3 000 000 |
$9375 and 1·3% of the taxable value that exceeds $1 800 000 |
6 |
3 000 000 | |
$24 975 and 2·25% of the taxable value that exceeds $3 000 000 |
Sch. 1 cl. 1.5 (Heading) amended by No. 18/2023 s. 34(1).
Sch. 1 cl. 1.5 inserted by No. 22/2021 s. 31, amended by No. 18/2023 s. 34(2).
1.5 Land tax for 2022, 2023 and 2034 and subsequent years
The rate of land tax for 2022, 2023 and 2034 and each subsequent year is set out in Table 1.5.
Table 1.5
Column 1 |
Column 2 |
Column 3 | |
---|---|---|---|
|
$ |
$ | |
1 |
0 |
300 000 |
Nil |
2 |
300 000 |
600 000 |
$375 and 0·2% of the taxable value that exceeds $300 000 |
3 |
600 000 |
1 000 000 |
$975 and 0·5% of the taxable value that exceeds $600 000 |
4 |
1 000 000 |
1 800 000 |
$2975 and 0·8% of the taxable value that exceeds $1 000 000 |
5 |
1 800 000 |
3 000 000 |
$9375 and 1·55% of the taxable value that exceeds $1 800 000 |
6 |
3 000 000 | |
$27 975 and 2·55% of the taxable value that exceeds $3 000 000 |
Sch. 1 cl. 1.6 inserted by No. 18/2023 s. 35.
1.6 Land tax for 2024 to 2033
The rate of land tax for each of the years from 2024 to 2033 is set out in Table 1.6.
Table 1.6
|
Column 1 |
Column 2 |
Column 3 |
---|---|---|---|
|
$ |
$ | |
1 |
0 |
50 000 |
Nil |
2 |
50 000 |
100 000 |
$500 |
3 |
100 000 |
300 000 |
$975 |
4 |
300 000 |
600 000 |
$1350 and 0·3% of the taxable value that exceeds $300 000 |
5 |
600 000 |
1 000 000 |
$2250 and 0·6% of the taxable value that exceeds $600 000 |
6 |
1 000 000 |
1 800 000 |
$4650 and 0·9% of the taxable value that exceeds $1 000 000 |
7 |
1 800 000 |
3 000 000 |
$11 850 and 1·65% of the taxable value that exceeds $1 800 000 |
8 |
3 000 000 | |
$31 650 and 2·65% of the taxable value that exceeds $3 000 000 |
Sch. 1 cl. 1.7 inserted by No. 38/2023 s. 42.
1.7 Rate of land tax for land assessed under certain sections for 2024 to 2033
Despite anything to the contrary in this Schedule, the rate of land tax assessed under the following sections for each of the years from 2024 to 2033 is the rate set out in Table 1.5—
(a) section 37(3), if the owner of land would otherwise be subject to land tax at the rate set out in Table 1.6;
(b) section 46G(3)(a), if there is a nomination under section 46H in force;
(c) section 46G(4) for the variable R 1 , if there is a nomination under section 46H in force;
(d) section 46I(2);
Part 2—Rate of land tax on transmission easements
Sch. 1 cl. 2.1 (Heading) amended by No. 22/2007 s. 7(3)(a).
Sch. 1 cl. 2.1 amended by No. 22/2007 s. 7(3)(b).
2.1 Rate of land tax on transmission easements for 2007
The rate of land tax on transmission easements for 2007 is set out in Table 2.1.
Sch. 1 cl. 2.1 (Table 2.1) substituted by No. 38/2006 s. 8(3), amended by No. 22/2007 s. 7(3)(c).
Table 2.1
|
Column 1 |
Column 2 |
Column 3 |
---|---|---|---|
|
$ |
$ | |
1. |
0 |
200 000 |
Nil |
2. |
200 000 |
540 000 |
$200 and 0·2% of the taxable value that exceeds $200 000 |
3. |
540 000 |
900 000 |
$880 and 0·5% of the taxable value that exceeds $540 000 |
4. |
900 000 |
1 190 000 |
$2680 and 0·8% of the taxable value that exceeds $900 000 |
5. |
1 190 000 |
1 620 000 |
$5000 and 1·2% of the taxable value that exceeds $1 190 000 |
6. |
1 620 000 |
2 700 000 |
$10 160 and 1·8% of the taxable value that exceeds $1 620 000 |
7. |
2 700 000 | |
$29 600 and 5% of the taxable value that exceeds $2 700 000 |
Sch. 1 cl. 2.2 (Heading) amended by No. 31/2008 s. 19(3)(a).
Sch. 1 cl. 2.2 inserted by No. 22/2007 s. 7(4), amended by No. 31/2008 s. 19(3)(b).
2.2 Rate of land tax on transmission easements for 2008
The rate of land tax on transmission easements for 2008 is set out in Table 2.2.
Table 2.2
|
Column 1 |
Column 2 |
Column 3 |
---|---|---|---|
|
$ |
$ | |
1 |
0 |
225 000 |
Nil |
2 |
225 000 |
540 000 |
$250 and 0·2% of the taxable value that exceeds $225 000 |
3 |
540 000 |
900 000 |
$880 and 0·5% of the taxable value that exceeds $540 000 |
4 |
900 000 |
1 620 000 |
$2680 and 0·8% of the taxable value that exceeds $900 000 |
5 |
1 620 000 |
2 700 000 |
$8440 and 1·3% of the taxable value that exceeds $1 620 000 |
6 |
2 700 000 | |
$22 480 and 5% of the taxable value that exceeds $2 700 000 |
Sch. 1 cl. 2.3 inserted by No. 31/2008 s. 19(4).
2.3 Rate of land tax on transmission easements for 2009 and subsequent years
The rate of land tax on transmission easements for 2009 and each subsequent year is set out in Table 2.3.
Table 2.3
|
Column 1 |
Column 2 |
Column 3 |
---|---|---|---|
|
$ |
$ | |
1 |
0 |
250 000 |
Nil |
2 |
250 000 |
600 000 |
$275 and 0·2% of the taxable value that exceeds $250 000 |
3 |
600 000 |
1 000 000 |
$975 and 0·5% of the taxable value that exceeds $600 000 |
4 |
1 000 000 |
1 800 000 |
$2975 and 0·8% of the taxable value that exceeds $1 000 000 |
5 |
1 800 000 |
3 000 000 |
$9375 and 1·3% of the taxable value that exceeds $1 800 000 |
6 |
3 000 000 | |
$24 975 and 5% of the taxable value that exceeds $3 000 000 |
Sch. 1 Pt 3 (Heading and cls 3.1–3.3) inserted by No. 85/2005 s. 30.
Part 3—Surcharge rates of land tax for trusts
Sch. 1 cl. 3.1 inserted by No. 85/2005 s. 30.
3.1 Land tax for trusts for 2006
The rate of land tax for 2006 for land held by an owner subject to a trust is set out in Table 3.1.
Table 3.1
Item |
Column 1 |
Column 2 |
Column 3 |
---|---|---|---|
|
$ |
$ | |
1. |
0 |
20 000 |
Nil |
2. |
20 000 |
200 000 |
$75 and 0·375% of the taxable value that exceeds $20 000 |
3. |
200 000 |
540 000 |
$750 and 0·575% of the taxable value that exceeds $200 000 |
4. |
540 000 |
900 000 |
$2705 and 0·875% of the taxable value that exceeds $540 000 |
5. |
900 000 |
1 190 000 |
$5855 and 1·375% of the taxable value that exceeds $900 000 |
6. |
1 190 000 |
1 620 000 |
$9843 and 1·875% of the taxable value that exceeds $1 190 000 |
7. |
1 620 000 |
2 700 000 |
$17 905 and 1·706% of the taxable value that exceeds $1 620 000 |
8. |
2 700 000 | |
$36 330 and 3·5% of the taxable value that exceeds $2 700 000 |
Sch. 1 cl. 3.2 (Heading) amended by No. 22/2007 s. 7(5)(a).
Sch. 1 cl. 3.2 inserted by No. 85/2005 s. 30, substituted by No. 38/2006 s. 8(4), amended by No. 22/2007 s. 7(5)(b).
3.2 Land tax for trusts for 2007
The rate of land tax for 2007 for land held by an owner subject to a trust is set out in Table 3.2.
Table 3.2
Item |
Column 1 |
Column 2 |
Column 3 |
---|---|---|---|
|
$ |
$ | |
1. |
0 |
20 000 |
Nil |
2. |
20 000 |
200 000 |
$75 and 0·375% of the taxable value that exceeds $20 000 |
3. |
200 000 |
540 000 |
$750 and 0·575% of the taxable value that exceeds $200 000 |
4. |
540 000 |
900 000 |
$2705 and 0·875% of the taxable value that exceeds $540 000 |
5. |
900 000 |
1 190 000 |
$5855 and 1·175% of the taxable value that exceeds $900 000 |
6. |
1 190 000 |
1 620 000 |
$9263 and 1·575% of the taxable value that exceeds $1 190 000 |
7. |
1 620 000 |
2 700 000 |
$16 035 and 1·256% of the taxable value that exceeds $1 620 000 |
8. |
2 700 000 | |
$29 600 and 3% of the taxable value that exceeds $2 700 000 |
Sch. 1 cl. 3.3 (Heading) amended by No. 31/2008 s. 19(5)(a).
Sch. 1 cl. 3.3 inserted by No. 85/2005 s. 30, repealed by No. 38/2006 s. 8(5), new Sch. 1 cl. 3.3 inserted by No. 22/2007 s. 7(6), amended by No. 31/2008 s. 19(5)(b).
3.3 Land tax for trusts for 2008
The rate of land tax for 2008 for land held by an owner subject to a trust is set out in Table 3.3.
Table 3.3
|
Column 1 |
Column 2 |
Column 3 |
---|---|---|---|
|
$ |
$ | |
1 |
0 |
20 000 |
Nil |
2 |
20 000 |
225 000 |
$75 and 0·375% of the taxable value that exceeds $20 000 |
3 |
225 000 |
540 000 |
$844 and 0·575% of the taxable value that exceeds $225 000 |
4 |
540 000 |
900 000 |
$2655 and 0·875% of the taxable value that exceeds $540 000 |
5 |
900 000 |
1 620 000 |
$5805 and 1·175% of the taxable value that exceeds $900 000 |
6 |
1 620 000 |
2 700 000 |
$14 265 and 0·76% of the taxable value that exceeds $1 620 000 |
7 |
2 700 000 | |
$22 480 and 2·5% of the taxable value that exceeds $2 700 000 |
Sch. 1 cl. 3.4 (Heading) amended by No. 22/2021 s. 32(1).
Sch. 1 cl. 3.4 inserted by No. 31/2008 s. 19(6), amended by No. 22/2021 s. 32(2).
3.4 Land tax for trusts for 2009 to 2021
The rate of land tax for each of the years from 2009 to 2021 for land held by an owner subject to a trust is set out in Table 3.4.
Table 3.4
|
Column 1 |
Column 2 |
Column 3 |
---|---|---|---|
|
$ |
$ | |
1 |
0 |
25 000 |
Nil |
2 |
25 000 |
250 000 |
$82 and 0·375% of the taxable value that exceeds $25 000 |
3 |
250 000 |
600 000 |
$926 and 0·575% of the taxable value that exceeds $250 000 |
4 |
600 000 |
1 000 000 |
$2938 and 0·875% of the taxable value that exceeds $600 000 |
5 |
1 000 000 |
1 800 000 |
$6438 and 1·175% of the taxable value that exceeds $1 000 000 |
6 |
1 800 000 |
3 000 000 |
$15 838 and 0·7614% of the taxable value that exceeds $1 800 000 |
7 |
3 000 000 | |
$24 975 and 2·25% of the taxable value that exceeds $3 000 000 |
Sch. 1 cl. 3.5 (Heading) amended by No. 18/2023 s. 36(1).
Sch. 1 cl. 3.5 inserted by No. 22/2021 s. 33, amended by No. 18/2023 s. 36(2).
3.5 Land tax for trusts for 2022, 2023 and 2034 and subsequent years
The rate of land tax for 2022, 2023 and 2034 and each subsequent year for land held by an owner subject to a trust is set out in Table 3.5.
Table 3.5
|
Column 1 |
Column 2 |
Column 3 |
---|---|---|---|
|
$ |
$ | |
1 |
0 |
25 000 |
Nil |
2 |
25 000 |
250 000 |
$82 and 0·375% of the taxable value that exceeds $25 000 |
3 |
250 000 |
600 000 |
$926 and 0·575% of the taxable value that exceeds $250 000 |
4 |
600 000 |
1 000 000 |
$2938 and 0·875% of the taxable value that exceeds $600 000 |
5 |
1 000 000 |
1 800 000 |
$6438 and 1·175% of the taxable value that exceeds $1 000 000 |
6 |
1 800 000 |
3 000 000 |
$15 838 and 1·0114% of the taxable value that exceeds $1 800 000 |
7 |
3 000 000 | |
$27 975 and 2·55% of the taxable value that exceeds $3 000 000 |
Sch. 1 cl. 3.6 inserted by No. 18/2023 s. 37.
3.6 Land tax for trusts for 2024 to 2033
The rate of land tax for each of the years from 2024 to 2033 for land held by an owner subject to a trust is set out in Table 3.6.
Table 3.6
|
Column 1 |
Column 2 |
Column 3 |
---|---|---|---|
|
$ |
$ | |
1 |
0 |
25 000 |
Nil |
2 |
25 000 |
50 000 |
$82 and 0·375% of the taxable value that exceeds $25 000 |
3 |
50 000 |
100 000 |
$676 and 0·375% of the taxable value that exceeds $50 000 |
4 |
100 000 |
250 000 |
$1338 and 0·375% of the taxable value that exceeds $100 000 |
5 |
250 000 |
600 000 |
$1901 and 0·675% of the taxable value that exceeds $250 000 |
6 |
600 000 |
1 000 000 |
$4263 and 0·975% of the taxable value that exceeds $600 000 |
7 |
1 000 000 |
1 800 000 |
$8163 and 1·275% of the taxable value that exceeds $1 000 000 |
8 |
1 800 000 |
3 000 000 |
$18 363 and 1·1072% of the taxable value that exceeds $1 800 000 |
9 |
3 000 000 | |
$31 650 and 2·65% of the taxable value that exceeds $3 000 000 |
Sch. 1 cl. 3.7 inserted by No. 38/2023 s. 43.
3.7 Rate of land tax for land assessed under certain sections for 2024 to 2033
Despite anything to the contrary in this Schedule, the rate of land tax assessed under the following sections for each of the years from 2024 to 2033 is the rate set out in Table 3.5—
(a) section 37(3), if the owner of land would otherwise be subject to land tax at the rate set out in Table 3.6;
(b) section 46A(1), if there is a nomination under section 46H in force;
(c) section 46G(3)(b), if there is a nomination under section 46H in force;
(d) section 46G(4) for the variable R 2 , if there is a nomination under section 46H in force;
Sch. 1 Pt 4 (Heading and cl. 4.1) inserted by No. 26/2015 s. 38.
Part 4—General absentee owner surcharge rates of land tax
Sch. 1 cl. 4.1 (Heading) amended by No. 40/2016 s. 27(1).
Sch. 1 cl. 4.1 amended by No. 40/2016 s. 27(2).
4.1 Rate of land tax on land held by absentee owners for 2016
The rate of land tax on land held by an absentee owner for 2016 is set out in Table 4.1.
Table 4.1
|
Column 1 |
Column 2 |
Column 3 |
---|---|---|---|
|
$ |
$ | |
1 |
0 |
250 000 |
Nil |
2 |
250 000 |
600 000 |
$1525 and 0·7% of the taxable value that exceeds $250 000 |
3 |
600 000 |
1 000 000 |
$3975 and 1·0% of the taxable value that exceeds $600 000 |
4 |
1 000 000 |
1 800 000 |
$7975 and 1·3% of the taxable value that exceeds $1 000 000 |
5 |
1 800 000 |
3 000 000 |
$18 375 and 1·8% of the taxable value that exceeds $1 800 000 |
6 |
3 000 000 | |
$39 975 and 2·75% of the taxable value that exceeds $3 000 000 |
Sch. 1 cl. 4.2 (Heading) amended by No. 17/2019 s. 43(1).
Sch. 1 cl. 4.2 inserted by No. 40/2016 s. 28, amended by No. 17/2019 s. 43(2).
4.2 Rate of land tax on land held by absentee owners for 2017, 2018 and 2019
The rate of land tax on land held by an absentee owner for 2017, 2018 and 2019 is set out in Table 4.2.
Table 4.2
|
Column 1 |
Column 2 |
Column 3 |
---|---|---|---|
|
$ |
$ | |
1 |
0 |
250 000 |
Nil |
2 |
250 000 |
600 000 |
$4025 and 1·7% of the taxable value that exceeds $250 000 |
3 |
600 000 |
1 000 000 |
$9975 and 2% of the taxable value that exceeds $600 000 |
4 |
1 000 000 |
1 800 000 |
$17 975 and 2·3% of the taxable value that exceeds $1 000 000 |
5 |
1 800 000 |
3 000 000 |
$36 375 and 2·8% of the taxable value that exceeds $1 800 000 |
6 |
3 000 000 | |
$69 975 and 3·75% of the taxable value that exceeds $3 000 000 |
Sch. 1 cl. 4.3 (Heading) amended by No. 22/2021 s. 34(1).
Sch. 1 cl. 4.3 inserted by No. 17/2019 s. 44, amended by No. 22/2021 s. 34(2).
4.3 Rate of land tax on land held by absentee owners for 2020 and 2021
The rate of land tax on land held by an absentee owner for 2020 and 2021 is set out in Table 4.3.
Table 4.3
|
Column 1 Taxable value not less than |
Column 2 Taxable value less than |
Column 3
|
---|---|---|---|
|
$ |
$ | |
1 |
0 |
250 000 |
Nil |
2 |
250 000 |
600 000 |
$5275 and 2·2% of the taxable value that exceeds $250 000 |
3 |
600 000 |
1 000 000 |
$12 975 and 2·5% of the taxable value that exceeds $600 000 |
4 |
1 000 000 |
1 800 000 |
$22 975 and 2·8% of the taxable value that exceeds $1 000 000 |
5 |
1 800 000 |
3 000 000 |
$45 375 and 3·3% of the taxable value that exceeds $1 800 000 |
6 |
3 000 000 | |
$84 975 and 4·25% of the taxable value that exceeds $3 000 000 |
Sch. 1 cl. 4.4 (Heading) amended by No. 18/2023 s. 38(1).
Sch. 1 cl. 4.4 inserted by No. 22/2021 s. 35, amended by No. 18/2023 s. 38(2).
4.4 Rate of land tax on land held by absentee owners for 2022 and 2023
The rate of land tax on land held by an absentee owner for 2022 and 2023 is set out in Table 4.4.
Table 4.4
|
Column 1 Taxable value not less than |
Column 2 Taxable value less than |
Column 3
|
---|---|---|---|
|
$ |
$ | |
1 |
0 |
300 000 |
Nil |
2 |
300 000 |
600 000 |
$6375 and 2·2% of the taxable value that exceeds $300 000 |
3 |
600 000 |
1 000 000 |
$12 975 and 2·5% of the taxable value that exceeds $600 000 |
4 |
1 000 000 |
1 800 000 |
$22 975 and 2·8% of the taxable value that exceeds $1 000 000 |
5 |
1 800 000 |
3 000 000 |
$45 375 and 3·55% of the taxable value that exceeds $1 800 000 |
6 |
3 000 000 | |
$87 975 and 4·55% of the taxable value that exceeds $3 000 000 |
Sch. 1 cl. 4.5 inserted by No. 18/2023 s. 39.
4.5 Rate of land tax on land held by absentee owners for 2024 to 2033
The rate of land tax on land held by an absentee owner for each of the years from 2024 to 2033 is set out in Table 4.5.
Table 4.5
|
Column 1 Taxable value not less than |
Column 2 Taxable value less than |
Column 3
|
---|---|---|---|
|
$ |
$ | |
1 |
0 |
50 000 |
Nil |
2 |
50 000 |
100 000 |
$2500 and 4% of the taxable value that exceeds $50 000 |
3 |
100 000 |
300 000 |
$4975 and 4% of the taxable value that exceeds $100 000 |
4 |
300 000 |
600 000 |
$13 350 and 4·3% of the taxable value that exceeds $300 000 |
5 |
600 000 |
1 000 000 |
$26 250 and 4·6% of the taxable value that exceeds $600 000 |
6 |
1 000 000 |
1 800 000 |
$44 650 and 4·9% of the taxable value that exceeds $1 000 000 |
7 |
1 800 000 |
3 000 000 |
$83 850 and 5·65% of the taxable value that exceeds $1 800 000 |
8 |
3 000 000 | |
$151 650 and 6·65% of the taxable value that exceeds $3 000 000 |
Sch. 1 cl. 4.6 inserted by No. 18/2023 s. 39.
4.6 Rate of land tax on land held by absentee owners for 2034 and subsequent years
The rate of land tax on land held by an absentee owner for 2034 and each subsequent year is set out in Table 4.6.
Table 4.6
|
Column 1 Taxable value not less than |
Column 2 Taxable value less than |
Column 3
|
---|---|---|---|
|
$ |
$ | |
1 |
0 |
50 000 |
Nil |
2 |
50 000 |
300 000 |
$2 000 and 4% of the taxable value that exceeds $50 000 |
3 |
300 000 |
600 000 |
$12 375 and 4·2% of the taxable value that exceeds $300 000 |
4 |
600 000 |
1 000 000 |
$24 975 and 4·5% of the taxable value that exceeds $600 000 |
5 |
1 000 000 |
1 800 000 |
$42 975 and 4·8% of the taxable value that exceeds $1 000 000 |
6 |
1 800 000 |
3 000 000 |
$81 375 and 5·55% of the taxable value that exceeds $1 800 000 |
7 |
3 000 000 | |
$147 975 and 6·55% of the taxable value that exceeds $3 000 000 |
Sch. 1 cl. 4.7 inserted by No. 38/2023 s. 44.
4.7 Rate of land tax for land assessed under certain sections for 2024 to 2033
Despite anything to the contrary in this Schedule, the rate of land tax assessed under the following sections for each of the years from 2024 to 2033 is the rate set out in Table 4.6—
(a) section 37(3), if the owner of land would otherwise be subject to land tax at the rate set out in Table 4.5;
(b) section 46IF(2)(a);
(c) section 46IE(3)(a), if there is a nomination under section 46H in force;
(d) section 46IE(4) for the variable R 1 , if there is a nomination under section 46H in force.
Sch. 1 Pt 5 (Heading and cl. 5.1) inserted by No. 26/2015 s. 38.
Part 5—Surcharge rates of land tax for absentee trusts
Sch. 1 cl. 5.1 (Heading) amended by No. 40/2016 s. 29(1).
Sch. 1 cl. 5.1 amended by No. 40/2016 s. 29(2).
5.1 Rate of land tax on land held by owner subject to an absentee trust for 2016
The rate of land tax for land held by an owner subject to an absentee trust for 2016 is set out in Table 5.1.
Table 5.1
|
Column 1 |
Column 2 |
Column 3 |
---|---|---|---|
|
$ |
$ | |
1 |
0 |
25 000 |
Nil |
2 |
25 000 |
250 000 |
$207 and 0·875% of the taxable value that exceeds $25 000 |
3 |
250 000 |
600 000 |
$2176 and 1·075% of the taxable value that exceeds $250 000 |
4 |
600 000 |
1 000 000 |
$5938 and 1·375% of the taxable value that exceeds $600 000 |
5 |
1 000 000 |
1 800 000 |
$11 438 and 1·675% of the taxable value that exceeds $1 000 000 |
6 |
1 800 000 |
3 000 000 |
$24 838 and 1·2614% of the taxable value that exceeds $1 800 000 |
7 |
3 000 000 | |
$39 975 and 2·75% of the taxable value that exceeds $3 000 000 |
Sch. 1 cl. 5.2 (Heading) amended by No. 17/2019 s. 45(1).
Sch. 1 cl. 5.2 inserted by No. 40/2016 s. 30, amended by Nos 66/2016 s. 5, 17/2019 s. 45(2).
5.2 Rate of land tax on land held by owner subject to an absentee trust for 2017, 2018 and 2019
The rate of land tax for land held by an owner subject to an absentee trust for 2017, 2018 and 2019 is set out in Table 5.2.
Table 5.2
|
Column 1 |
Column 2 |
Column 3 |
---|---|---|---|
|
$ |
$ | |
1 |
0 |
25 000 |
Nil |
2 |
25 000 |
250 000 |
$457 and 1·875% of the taxable value that exceeds $25 000 |
3 |
250 000 |
600 000 |
$4676 and 2·075% of the taxable value that exceeds $250 000 |
4 |
600 000 |
1 000 000 |
$11 938 and 2·375% of the taxable value that exceeds $600 000 |
5 |
1 000 000 |
1 800 000 |
$21 438 and 2·675% of the taxable value that exceeds $1 000 000 |
6 |
1 800 000 |
3 000 000 |
$42 838 and 2·2614% of the taxable value that exceeds $1 800 000 |
7 |
3 000 000 | |
$69 975 and 3·75% of the taxable value that exceeds $3 000 000 |
Sch. 1 cl. 5.3 (Heading) amended by No. 22/2021 s. 36(1).
Sch. 1 cl. 5.3 inserted by No. 17/2019 s. 46, amended by No. 22/2021 s. 36(2).
5.3 Rate of land tax on land held by owner subject to an absentee trust for 2020 and 2021
The rate of land tax for land held by an owner subject to an absentee trust for 2020 and 2021 is set out in Table 5.3.
Table 5.3
|
Column 1 Taxable value not less than |
Column 2 Taxable value less than |
Column 3
|
---|---|---|---|
|
$ |
$ | |
1 |
0 |
25 000 |
Nil |
2 |
25 000 |
250 000 |
$582 and 2·375% of the taxable value that exceeds $25 000 |
3 |
250 000 |
600 000 |
$5926 and 2·575% of the taxable value that exceeds $250 000 |
4 |
600 000 |
1 000 000 |
$14 938 and 2·875% of the taxable value that exceeds $600 000 |
5 |
1 000 000 |
1 800 000 |
$26 438 and 3·175% of the taxable value that exceeds $1 000 000 |
6 |
1 800 000 |
3 000 000 |
$51 838 and 2·7614% of the taxable value that exceeds $1 800 000 |
7 |
3 000 000 | |
$84 975 and 4·25% of the taxable value that exceeds $3 000 000 |
Sch. 1 cl. 5.4 (Heading) amended by No. 18/2023 s. 40(1).
Sch. 1 cl. 5.4 inserted by No. 22/2021 s. 37, amended by No. 18/2023 s. 40(2).
5.4 Rate of land tax on land held by owner subject to an absentee trust for 2022 and 2023
The rate of land tax for land held by an owner subject to an absentee trust for 2022 and 2023 is set out in Table 5.4.
Table 5.4
|
Column 1 Taxable value not less than |
Column 2 Taxable value less than |
Column 3
|
---|---|---|---|
|
$ |
$ | |
1 |
0 |
25 000 |
Nil |
2 |
25 000 |
250 000 |
$582 and 2·375% of the taxable value that exceeds $25 000 |
3 |
250 000 |
600 000 |
$5926 and 2·575% of the taxable value that exceeds $250 000 |
4 |
600 000 |
1 000 000 |
$14 938 and 2·875% of the taxable value that exceeds $600 000 |
5 |
1 000 000 |
1 800 000 |
$26 438 and 3·175% of the taxable value that exceeds $1 000 000 |
6 |
1 800 000 |
3 000 000 |
$51 838 and 3·0114% of the taxable value that exceeds $1 800 000 |
7 |
3 000 000 | |
$87 975 and 4·55% of the taxable value that exceeds $3 000 000 |
Sch. 1 cl. 5.5 inserted by No. 18/2023 s. 41.
5.5 Rate of land tax on land held by owner subject to an absentee trust for 2024 to 2033
The rate of land tax for land held by an owner subject to an absentee trust for each of the years from 2024 to 2033 is set out in Table 5.5.
Table 5.5
|
Column 1 Taxable value not less than |
Column 2 Taxable value less than |
Column 3
|
---|---|---|---|
|
$ |
$ | |
1 |
0 |
25 000 |
Nil |
2 |
25 000 |
50 000 |
$1082 and 4·375% of the taxable value that exceeds $25 000 |
3 |
50 000 |
100 000 |
$2676 and 4·375% of the taxable value that exceeds $50 000 |
4 |
100 000 |
250 000 |
$5338 and 4·375% of the taxable value that exceeds $100 000 |
5 |
250 000 |
600 000 |
$11 901 and 4·675% of the taxable value that exceeds $250 000 |
6 |
600 000 |
1 000 000 |
$28 263 and 4·975% of the taxable value that exceeds $600 000 |
7 |
1 000 000 |
1 800 000 |
$48 163 and 5·275% of the taxable value that exceeds $1 000 000 |
8 |
1 800 000 |
3 000 000 |
$90 363 and 5·1072% of the taxable value that exceeds $1 800 000 |
9 |
3 000 000 | |
$151 650 and 6·65% of the taxable value that exceeds $3 000 000 |
Sch. 1 cl. 5.6 inserted by No. 18/2023 s. 41.
5.6 Rate of land tax on land held by owner subject to an absentee trust for 2034 and subsequent years
The rate of land tax for land held by an owner subject to an absentee trust for 2034 and each subsequent year is set out in Table 5.6.
Table 5.6
|
Column 1 Taxable value not less than |
Column 2 Taxable value less than |
Column 3
|
---|---|---|---|
|
$ |
$ | |
1 |
0 |
25 000 |
Nil |
2 |
25 000 |
250 000 |
$1082 and 4·375% of the taxable value that exceeds $25 000 |
3 |
250 000 |
600 000 |
$10 926 and 4·575% of the taxable value that exceeds $250 000 |
4 |
600 000 |
1 000 000 |
$26 938 and 4·875% of the taxable value that exceeds $600 000 |
5 |
1 000 000 |
1 800 000 |
$46 438 and 5·175% of the taxable value that exceeds $1 000 000 |
6 |
1 800 000 |
3 000 000 |
$87 838 and 5·0114% of the taxable value that exceeds $1 800 000 |
7 |
3 000 000 | |
$147 975 and 6·55% of the taxable value that exceeds $3 000 000 |
Sch. 1 cl. 5.7 inserted by No. 38/2023 s. 45.
5.7 Rate of land tax for land assessed under certain sections for 2024 to 2033
Despite anything to the contrary in this Schedule, the rate of land tax assessed under the following sections for each of the years from 2024 to 2033 is the rate set out in Table 5.6—
(a) section 37(3), if the owner of land would otherwise be subject to land tax at the rate set out in Table 5.5;
(b) section 46IE(3)(b), if there is a nomination under section 46H in force;
(c) section 46IE(4) for the variable R 2 , if there is a nomination under section 46H in force;
Sch. 1 Pt 6 (Heading and cls 6.1, 6.2) inserted by No. 38/2023 s. 46.
Part 6—Determining COVID-19 debt temporary surcharge if land has been assessed on single holding basis
Sch. 1 cl. 6.1 inserted by No. 38/2023 s. 46.
6.1 Surcharge for land subject to rates of land tax set out in Parts 1 and 4 of this Schedule
(1) This clause applies if—
(a) an amount is being determined under section 37(3A), 46G(5A) or 46IE(7) in respect of land; and
(b) any of the land (other than land in respect of which a nomination under section 46H is in force) is subject to land tax at the applicable rate under Part 1 or 4 of this Schedule.
(2) The rate for determining the amount for each of the years from 2024 to 2033 is set out in Table 6.1.
Table 6.1
|
Column 1 |
Column 2 |
Column 3 |
---|---|---|---|
1 |
0 |
50 000 |
Nil |
2 |
50 000 |
100 000 |
$500 |
3 |
100 000 |
300 000 |
$975 |
4 |
300 000 | |
$975 and 0·1% of the taxable value that exceeds $300 000 |
Sch. 1 cl. 6.2 inserted by No. 38/2023 s. 46.
6.2 Owners of land subject to rates of land tax set out in Parts 3 and 5 of this Schedule
(1) This clause applies if—
(a) an amount is being determined under section 37(3A), 46A(7), 46G(5A), 46IA(2A) or 46IE(7) in respect of land; and
(b) all of the land (other than land in respect of which a nomination under section 46H is in force) is subject to land tax at the applicable rate under Part 3 or 5 of this Schedule.
(2) The rate for determining the amount for each of the years from 2024 to 2033 is set out in Table 6.2.
Table 6.2
|
Column 1 |
Column 2 |
Column 3 |
---|---|---|---|
1 |
0 |
50 000 |
Nil |
2 |
50 000 |
100 000 |
$500 |
3 |
100 000 |
250 000 |
$975 |
4 |
250 000 | |
$975 and 0·1% of the taxable value that exceeds $250 000 |
Sch. 1A inserted by No. 67/2017 s. 21.