Australian Capital Territory Numbered Acts

REVENUE LEGISLATION (TAX REFORM) AMENDMENT ACT 2013 (NO. 17 OF 2013) - SCHEDULE 1

Schedule 1     Legislation amended

(see s 3)

Part 1.1     Land Tax Act 2004

[1.1]     Section 9 (1) (c)

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[1.2]     Section 9 (4), definition of commercial land

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[1.3]     Division 4.1 heading

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[1.4]     Division 4.2

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[1.5]     Dictionary, definition of qualifying parcel of land

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Part 1.2     Rates Act 2004

[1.6]     Section 14 (1)

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that has an average unimproved value of the threshold amount or less

[1.7]     Section 14 (2)

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that has an average unimproved value of more than the threshold amount

[1.8]     Section 14 (2), formula

substitute

[1.9]     Section 14 (3), definition of TA

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[1.10]     Section 34 (1)

substitute

    (1)     This section applies to a parcel of land that is a qualifying parcel of land.

[1.11]     Section 34 (3), formula

substitute

[1.12]     Section 34 (4), definition of TA or threshold amount

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[1.13]     New section 46 (2) (f)

insert

        (f)     if the owner, or each owner, is not a pensioner—that—

              (i)     at least 1 owner is 65 years old or older; and

              (ii)     the total income of the owner, or all the owners, is not more than an amount determined by the Minister (the  income threshold amount ); and

              (iii)     the unimproved value of the parcel is more than a value determined by the Minister (the determined value ); and

              (iv)     the owner's or owners' equity in the parcel is not less than a percentage determined by the Minister (the determined percentage ).

Note     Power to make a statutory instrument includes power to make different provision in relation to different matters or different classes of matters (see Legislation Act

, s 48).

[1.14]     New section 46 (9) and (10)

insert

    (9)     A determination under subsection (2) (f), or subsection (10), definition of "income", is a disallowable instrument.

Note     A disallowable instrument must be notified, and presented to the Legislative Assembly, under the Legislation Act

.

    (10)     In this section:

"income", of an owner, means the income of the owner worked out in the way determined by the Minister.

[1.15]     New section 52 (1) (g)

insert

        (g)     if the determination relates to the person or people mentioned in section 46 (2) (f)—

              (i)     the total income of the owner, or all the owners, is more than the income threshold amount; or

              (ii)     the unimproved value of the parcel is less than or equal to the determined value; or

              (iii)     the owner's or owners' equity in the parcel is less than the determined percentage.

[1.16]     Section 52 (3), new definitions

insert

"determined percentage"—see section 46 (2) (f) (iv).

"determined value"—see section 46 (2) (f) (iii).

"income", of an owner—see section 46 (10).

"income threshold amount"—see section 46 (2) (f) (ii).

[1.17]     Schedule 1, section 1.1 (2)

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that has an average unimproved value of more than the threshold amount

[1.18]     Schedule 1, section 1.1 (2), formula

substitute

[1.19]     Schedule 1, section 1.1 (3), definition of TA (or threshold amount )

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[1.20]     Schedule 1, section 3.1 (3), formula

substitute

[1.21]     Schedule 1, section 3.1 (4), definition of TA (or threshold amount )

omit