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LAND TAX AMENDMENT BILL 2014

2014

THE LEGISLATIVE ASSEMBLY

FOR THE AUSTRALIAN CAPITAL TERRITORY

(As presented)

(Treasurer)

Land Tax Amendment Bill 2014

A Bill for

An Act to amend the Land Tax Act 2004

The Legislative Assembly for the Australian Capital Territory enacts as follows:

1 Name of Act

This Act is the Land Tax Amendment Act 2014

.

2 Commencement

This Act commences on 1 October 2014.

Note The naming and commencement provisions automatically commence on the notification day (see Legislation Act

, s 75 (1)).

3 Legislation amended

This Act amends the Land Tax Act 2004

.

4 Imposition of land tax

Section 9 (2)

substitute

(2) The appropriate rate of land tax for a parcel of land is the amount worked out for the parcel as follows:

FC + (AUV × P)

5 Section 9 (4) and note

substitute

(4) In this section:

AUV means the average unimproved value of the parcel of land under the Rates Act 2004

.

FC means the fixed charge determined under the Taxation Administration Act, section 139 for the parcel of land.

P means the percentage rate determined under the Taxation Administration Act, section 139 for the parcel of land.

Note Power to determine a fixed charge or percentage rate under the Taxation Administration Act includes the power to determine a different charge or rate for different matters or classes of matter (see Legislation Act

, s 48).

6 Multiple dwellings

Section 15 (3)

substitute

(3) In working out the land tax payable for the parcel of land under section 9 (Imposition of land tax), the AUV of the parcel of land is the amount worked out as follows:

(3A) In working out the land tax payable for the parcel of land under section 9 (Imposition of land tax), the FC for the parcel of land is the amount worked out as follows:

7 Section 15 (4), new definition of FC

insert

FC means the fixed charge determined under the Taxation Administration Act, section 139 for section 9 (4), definition of FC.

8 Land partly owned by corporation or trustee

Section 16 (2)

substitute

(2) In working out the land tax payable for the parcel of land under section 9 (Imposition of land tax), the AUV of the parcel of land is the amount worked out as follows:

(2A) In working out the land tax payable for the parcel of land under section 9 (Imposition of land tax), the FC for the parcel of land is the amount worked out as follows:

9 Section 16 (3), new definition of FC

insert

FC means the fixed charge determined under the Taxation Administration Act, section 139 for section 9 (4), definition of FC.

10 Unit subdivisions—land tax

Section 27 (5)

substitute

(5) In working out the land tax payable for the parcel of land under section 9 (Imposition of land tax), the AUV of the parcel of land is the amount worked out as follows:

Endnotes

1 Presentation speech

Presentation speech made in the Legislative Assembly on 5 June 2014.

2 Notification

Notified under the Legislation Act

on 2014.

3 Republications of amended laws

For the latest republication of amended laws, see www.legislation.act.gov.au

.

© Australian Capital Territory 2014

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