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LAND TAX ACT 1956 - SECT 3AB
Levy of land tax after 31 December 1985 and before 1 January 1988
3AB Levy of land tax after 31 December 1985 and before 1 January 1988
(1) Except as provided by subsection (2), in respect of the taxable value of
all the land owned by any person at midnight on 31 December 1985 or 31
December 1986 there shall be charged, levied, collected and paid under the
provisions of the Principal Act and in the manner therein prescribed, land tax
for the period of 12 months commencing on 1 January in the next succeeding
year and at the rates set out in Schedule 3.
(2) In respect of the taxable
value of all the land owned by a person at midnight on 31 December 1985 or 31
December 1986 where-- (a) the owner is a company classified under section 29
of the Principal Act as a non-concessional company, or
(b) the land is
subject to a special trust,
land tax for the period of 12 months commencing on
1 January in the next succeeding year shall, except as provided by section 27
(2A) of the Principal Act, be charged, levied, collected and paid as referred
to in subsection (1) at the rate of 2 cents for each $1 of the taxable value.
(3) Where the total amount of land tax payable pursuant to this section by any
person in any year would, but for this subsection, be less than $100, no land
tax shall be payable.
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