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LAND TAX AMENDMENT BILL 2011

2011

THE LEGISLATIVE ASSEMBLY

FOR THE AUSTRALIAN CAPITAL TERRITORY

(As presented)

(Treasurer)

Land Tax Amendment Bill 2011

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 2011.

2 Commencement

This Act commences on the day after its notification day.

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 New section 14A

insert

14A Commissioner to be told if residential land owned by an individual as trustee

(1) This section applies in relation to a parcel of residential land that is owned by an individual as trustee.

(2) The individual must tell the commissioner, in writing—

(a) that the individual owns the parcel as trustee; and

(b) when the ownership as trustee began.

Note 1 If a form is approved under the Taxation Administration Act 1999, s 139C, the form must be used.

Note 2 It is an offence to fail to notify the commissioner under this section (see Taxation Administration Act 1999, s 67 (2)).

Note 3 It is also an offence to knowingly avoid paying, or disclosing a liability to pay, part or all of an amount of tax (see Taxation Administration Act 1999, s 65 (1)).

(3) The individual must tell the commissioner the information mentioned in subsection (2) not later than 30 days after—

(a) if there is a change of ownership of the parcel—the day the ownership changes; or

(b) in any other case—the day the ownership as trustee begins.

Endnotes

1 Presentation speech

Presentation speech made in the Legislative Assembly on 2011.

2 Notification

Notified under the Legislation Act on 2011.

3 Republications of amended laws

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

© Australian Capital Territory 2011

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