New South Wales Consolidated Acts

LAND TAX MANAGEMENT ACT 1956 - SECT 62J

62J Land that is eligible to have unutilised value ascertained

(1) Land is eligible to have an unutilised value allowance ascertained for its land value as at 1 July in a year if it satisfies the description in either of the following paragraphs as at midnight on 30 June in that year--

(a) a parcel of land used or occupied solely as the site of a single dwelling-house and which is, under an environmental planning instrument, zoned or otherwise designated for use for the purposes of industry, commerce or the erection of residential flat buildings,

(b) a parcel of land (which may comprise one or more lots or portions in a current plan within the meaning of the Conveyancing Act 1919 ) used or occupied solely as the site of a single dwelling-house and which is, under an environmental planning instrument, zoned or otherwise designated, so as to permit its subdivision for residential purposes.