New South Wales Consolidated Acts

LAND TAX MANAGEMENT ACT 1956 - SECT 10Q

10Q Low cost accommodation--exemption/reduction

(1) Land is exempted from taxation under this Act leviable or payable in respect of the year commencing on 1 January 1995 or any succeeding year if--

(a) the land is used and occupied primarily for low cost accommodation, and

(b) application for the exemption is made in accordance with this section, and

(c) the Chief Commissioner is satisfied that the land is so used and occupied in accordance with guidelines approved by the Treasurer for the purposes of this section.

(2) The guidelines may include provisions with respect to the following--

(a) the circumstances in which accommodation is taken to be low cost accommodation,

(b) the types and location of premises in which low cost accommodation may be provided,

(c) the number and types of persons for whom the accommodation must be provided,

(d) the circumstances in which, and the arrangements under which, the accommodation is provided,

(e) maximum tariffs for the accommodation,

(f) periods within which tariffs may not be increased,

(g) the circumstances in which the applicant is required to give an undertaking to pass on the benefit of the exemption from taxation (or, if subsection (4) applies, the reduction in taxation) to the persons for whom the accommodation is provided in the form of lower tariffs.

(3) A guideline may--

(a) apply generally or be limited in its application by reference to specified exceptions or factors, or

(b) apply differently according to different factors of a specified kind,

or both.

(4) If the Chief Commissioner is satisfied that part only of land or premises is used and occupied primarily for low cost accommodation in accordance with the Treasurer's guidelines, the land value of the land is to be reduced for the purposes of land tax in accordance with the principles in section 10R (3)-(3C).

(5) This section does not apply to an owner of land in respect of a tax year unless--

(a) the owner applies to the Chief Commissioner for the exemption or reduction, in the form approved by the Chief Commissioner, and

(b) the owner furnishes the Chief Commissioner with such evidence as the Chief Commissioner may request for the purpose of enabling the Chief Commissioner to determine whether there is an entitlement to the exemption or reduction.

(6) Without limiting the other ways in which this section may cease to apply to a person, it ceases to apply to a person if the person breaches an undertaking given as referred to in subsection (2) (g).