South Australian Current Acts South Australian Current Acts13J—Grouping of related corporations
(1) Related
corporations that own land are to be jointly assessed for land tax on the land
as if it were owned by a single corporation.
(2)
Related corporations are jointly and severally liable for the land tax.
(3) Section 42 of
the Taxation Administration Act 1996 applies to the liability under this
section and, accordingly, the Commissioner may issue notices of assessment for
the land tax—
(a) to
the related corporations jointly; or
(b) to
the related corporations separately; or
(c) to
any 2 or more of the related corporations jointly and the remainder
separately.
(4) If 2 or more
corporations are issued a notice of assessment jointly under
subsection (3), those corporations will, for the purposes of that notice
of assessment, be deemed to be a single corporation.
(5) A corporation that
is a related corporation of another corporation may apply to the Commissioner
to be exempted from the application of this Division and to instead be treated
as a single corporation for the purposes of assessment of land tax in relation
to land held by the corporation.
(6) The Commissioner
may only grant an application under subsection (5) if the Commissioner is
satisfied—
(a) that
the land is being held for the purpose of being developed as a residential
development of more than 10 allotments or lots; and
(b) as
to any other matters prescribed by the regulations.
(7) Subject to
subsection (9), an exemption granted on an application under
subsection (5) will be for an initial term specified by the Commissioner
in the instrument of exemption (which will be based on the expected
development period but may not exceed a period of 5 years).
(8) The initial term
of an exemption may, on application to the Commissioner, be extended for a
further period specified by the Commissioner if the Commissioner is satisfied
that the development of the land is occurring over a reasonable period in the
circumstances.
(9) An exemption will
cease if the Commissioner determines that—
(a) the
development has been substantially completed; or
(b) the
development has not been substantially commenced within the period of
2 years after the grant of the application (or such longer period as the
Commissioner may allow).
(10) An application
under subsection (5) or (8) must be in the form, and contain the
information, determined by the Commissioner.
(11) For the avoidance
of doubt, the Commissioner may only treat a related corporation as if it were
a single corporation if an exemption has been granted on an application under
subsection (5).