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LAND TAX ACT 1956 - SECT 3AG
Levy of land tax after 31 December 1997 and 31 December 1998
3AG Levy of land tax after 31 December 1997 and 31 December 1998
(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 1997 or at
midnight on 31 December 1998 there is to be charged, levied, collected and
paid under the provisions of the Principal Act and in the manner prescribed
under that Act, 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 8.
(2) In
respect of the taxable value of all the land owned by a person at midnight on
31 December 1997 or at midnight on 31 December 1998 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 is, except as provided by section 27 (2A) of the Principal Act, to be
charged, levied, collected and paid as referred to in subsection (1) at the
rate of 1.85 cents for each $1 of the taxable value.
(3) If 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 is payable.
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