South Australian Current Acts

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LAND TAX ACT 1936 - SECT 13B

13B—Land tax for beneficiary/trustees

        (1)         A person who—

            (a)         holds a beneficial interest in land subject to a fixed trust in respect of which a notice is in force under section 12 (the "first trust") as trustee of another trust (the "second trust") is deemed, for the purposes of this Act other than a residential land exemption, to be the owner of land subject to the first trust that bears the same proportion to the whole of the land subject to the first trust as the person's beneficial interest in the land subject to the first trust bears to the total beneficial interests in land subject to the first trust; and

            (b)         holds units in a unit trust scheme in respect of which a notice is in force under section 13 (the "first scheme") as trustee of another trust (the "second trust") is deemed, for the purposes of this Act other than a residential land exemption, to be the owner of land subject to the first scheme that bears the same proportion to the whole of the land subject to the first scheme as the person's unitholding in the first scheme bears to the total unitholdings in the first scheme.

        (2)         For the purposes of this section, a person referred to in subsection (1) is called a "beneficiary/trustee".

        (3)         Subject to subsection (4), there is to be deducted from any land tax payable by a beneficiary/trustee on land that is subject to the second trust an amount (if any) necessary to avoid double taxation, being the amount determined by the formula:

1936.2318.UN03.jpg

Where—

"A" is—

            (a)         the proportion of the beneficiary/trustee's beneficial interest in land subject to the first trust to the total beneficial interests in land subject to the first trust; or

            (b)         the proportion of the beneficiary/trustee's unitholding in the first scheme to the total unitholdings in the first scheme

"B" is the total amount of land tax assessed on the trustee of the first trust or the first scheme on the whole of the land subject to the first trust or first scheme.

        (4)         If a deduction under subsection (3) would result in a negative amount—

            (a)         zero is to be substituted for that amount; and

            (b)         the amount of the difference between that amount and zero will not be credited to any liability for land tax under this Act.

        (5)         This section does not apply where the first or second trust, or the first scheme, is an excluded trust.



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