Australian Capital Territory Numbered Acts

REVENUE LEGISLATION AMENDMENT ACT 2017 (NO 2) (NO. 11 OF 2017) - SECT 16

substitute

    (4)     Rates are imposed on a unit that is part of a unit subdivision in accordance with—

        (a)     for a unit other than a residential unit—the following formula:

; or

        (b)     for a residential unit—the following formula:

    (5)     In this section:

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

"AUVRU" means the AUV of the parcel proportionate to the number of residential units in the parcel, worked out as follows:

"AUVRUP" means the AUVRU adjusted by the applicable percentage rate, worked out as follows:

    "AUVU" means the AUV of the parcel proportionate to the unit in the parcel, worked out as follows:

"FC"—see section 14 (3).

"P"—see section 14 (3).

"residential unit "means a unit that is residential land.

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

"TUER "means the total unit entitlement of all the residential units in the units plan.

"UE" means the unit entitlement of the unit.