2003

THE LEGISLATIVE ASSEMBLY

FOR THE AUSTRALIAN CAPITAL TERRITORY

(As presented)

(Treasurer)

2003

THE LEGISLATIVE ASSEMBLY

FOR THE AUSTRALIAN CAPITAL TERRITORY

(As presented)

(Treasurer)

An Act to amend the Rates and Land Tax Act 1926 and the Taxation Administration Act 1999

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

This Act is the Revenue Legislation Amendment Act 2003 (No 3).  

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)).

This part amends the Rates and Land Tax Act 1926.

(1) For this Act, if a parcel of land is subdivided by the registration of a units plan (a unit subdivision), the land making up the parcel is taken to continue to be a single parcel of land.

(2) Without limiting subsection (1), a determination of the unimproved value of a parcel of land that is a unit subdivision is a determination of the unimproved value of the parcel.

(3) However, in the application of this Act to a unit subdivision—

(a) a reference to a parcel of land in relation to the assessment or payment of rates or land tax is a reference to a unit; and

(b) a reference to the owner is—

(i) in relation to the assessment or payment of rates or land tax—a reference to the unit owner; and

(ii) in relation to a notice of transfer—a reference to the unit owner; and

(iii) in relation to any other notice—a reference to the owners corporation.

(4) If rates and land tax (if any) imposed for the parcel for the year, or the quarter, when the units plan is registered are not paid before the registration of the units plan, they are payable by the person who was the owner of the parcel on the day before the day when the units plan was registered.

(5) On and after 1 July after the day when the units plan is registered or, if it is registered on 1 July, on and after that 1 July—

(a) the rates imposed for the parcel are payable by the unit owners; and

(b) the amount payable by each unit owner is an amount worked out under subsection (6); and

(c) no rates for the parcel are payable by the owners corporation.

(6) Section 13 (Imposition) applies to impose rates on a unit that is part of a unit subdivision as if a reference to the average unimproved value for the unit were a reference to the amount worked out in accordance with the following formula:

(7) On and after the 1st day of the next quarter after the day when the units plan is registered or, if it is registered on the 1st day of a quarter, on and after that day—

(a) any land tax imposed under this Act for the parcel of land is payable by the unit owners whose units are subject to land tax; and

(b) the amount payable by each owner whose unit is subject to land tax is worked out under subsection (8); and

(c) no land tax for the parcel is payable by the owners corporation.

(8) In working out the land tax payable for the parcel of land under section 22A (Imposition of land tax), the average unimproved value of the unit is the amount worked out in accordance with the following formula:

(9) In this section:

AUV means the average unimproved value of the parcel of land.

TUE means the unit entitlement of all the units in the units plan.

UE means the unit entitlement of the particular unit.

(10) If an amount worked out under this section contains a fraction of a cent, the amount must be rounded to the nearest cent, with ½ a cent being disregarded.

(11) Expressions used in this section have the same meanings as in the Unit Titles Act 2001.

(1) Section 24A as amended by the Revenue Legislation Amendment Act 2003 (No 3) applies, and is taken to have applied on and from 1 August 1991, in relation to a parcel of land subdivided by the registration of a units plan whether before, on or after that date.

(i) the reference in subsection (4) to a quarter were omitted; and

(ii) any other reference to a quarter were a reference to a year; and

(b) in relation to the period from 1 August 1991 to 5 October 2001—as if—

(3) This section expires 1 year after the day it commences.

This part amends the Taxation Administration Act 1999.

(ha) the Taxation (Administration) Act 1987;

On and after the commencement of this section, division 9.4 (Secrecy) applies in relation to a confidential document or confidential information acquired under, or as a result of exercising functions under or in relation to, the Taxation (Administration) Act 1987.

141 to 143

141 to 143A

142-144

142-143

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