Australian Capital Territory Numbered Acts

RATES AMENDMENT ACT 2020 (NO. 8 OF 2020) - SECT 11

New section 40E (3) to (5)

insert

    (3)     In working out the first commercial land AUV for the calendar year 2020, the commissioner must, for each parcel of relevant commercial land that has been rateable for 4 years or more, determine the average unimproved value of the parcel over the previous 4 years.

    (4)     In working out the first commercial land AUV for the calendar year 2021, the commissioner must, for each parcel of relevant commercial land that has been rateable for 5 years or more, determine the average unimproved value of the parcel over the previous 5 years.

    (5)     Subsections (3), (4) and this subsection expire on 30 June 2022.