Australian Capital Territory Numbered Acts

RATES AND LAND TAX (AMENDMENT) ACT (NO. 12 OF 1995) - SECT 5

5. After section 11 of the Principal Act the following section is inserted:

“11A. (1) For the purposes of this Act, the unimproved value of a parcel of land as at 1 January 1995 shall be ascertained in accordance with this section, despite any other provision of this Act.

“(2) Where the unimproved value of a parcel of land as at 1 January 1995 is to be determined or re-determined under another provision of this Act, the value determined or re-determined under that provision shall be the unimproved value of the parcel as at 1 January 1994.

“(3) Where the unimproved value of a parcel of land as at 1 January 1994 has been determined or re-determined under this Act before 1 July 1995—

        (a)     subsection (2) does not apply;

        (b)     the unimproved value of the parcel as at 1 January 1995 shall be taken to be the unimproved value of the parcel as so determined or re-determined as at 1 January 1994;

        (c)     the fixing of the valuation under paragraph (b) shall be taken to be a valuation referred to in subsection 8 (1A);

        (d)     section 12 applies in respect of the fixing of the valuation under paragraph (b) as if the value so fixed had been determined; and

        (e)     section 29 does not apply in respect of the valuation under paragraph (b).”.