Victorian Numbered Acts

DUTIES AND LAND TAX ACTS (AMENDMENT) ACT 2005 (NO 85 OF 2005) - SECT 21

In the Second Schedule to the Land Tax Act 1958 , after clause 9 insert —

        "10.     Land tax for trusts for 2006

        If the total unimproved value of land held by an owner subject to a trust as assessed under this Act for 2006 is not less than the amount shown in column 1 of an item in Table J and, if an amount is shown in column 2 of that item, less than the amount shown in column 2 of that item, the duty of land tax payable on the land is the amount determined in accordance with column 3 of that item.

TABLE J

Item	Column 1	Column 2	Column 3
	$	$
1.	0	20 000	Nil
2.	20 000	200 000	$75 and 0·375 cents for each $1 of the value that exceeds $20 000
3.	200 000	540 000	$750 and 0·575 cents for each $1 of the value that exceeds $200 000
4.	540 000	900 000	$2705 and 0·875 cents for each $1 of the value that exceeds $540 000
5.	900 000	1 190 000	$5855 and 1·375 cents for each $1 of the value that exceeds $900 000
6.	1 190 000	1 620 000	$9843 and 1·875 cents for each $1 of the value that exceeds $1 190 000
7.	1 620 000	2 700 000	$17 905 and 1·706 cents for each $1 of the value that exceeds $1 620 000
8.	2 700 000		$36 330 and 3·5 cents for each $1 of the value that exceeds $2 700 000

        11.     Land tax for trusts for 2007

If the total unimproved value of land held by an owner subject to a trust as assessed under this Act for 2007 is not less than the amount shown in column 1 of an item in Table K and, if an amount is shown in column 2 of that item, less than the amount shown in column 2 of that item, the duty of land tax payable on the land is the amount determined in accordance with column 3 of that item.

TABLE K

Item	Column 1	Column 2	Column 3
	$	$
1.	0	20 000	Nil
2.	20 000	200 000	$75 and 0·375 cents for each $1 of the value that exceeds $20 000
3.	200 000	540 000	$750 and 0·575 cents for each $1 of the value that exceeds $200 000
4.	540 000	900 000	$2705 and 0·875 cents for each $1 of the value that exceeds $540 000
5.	900 000	1 190 000	$5855 and 1·375 cents for each $1 of the value that exceeds $900 000
6.	1 190 000	1 620 000	$9843 and 1·875 cents for each $1 of the value that exceeds $1 190 000
7.	1 620 000	2 700 000	$17 905 and 1·706 cents for each $1 of the value that exceeds $1 620 000
8.	2 700 000		$36 330 and 3·25 cents for each $1 of the value that exceeds $2 700 000

        12.     Land tax for trusts for 2008 and subsequent years

If the total unimproved value of land held by an owner subject to a trust as assessed under this Act for 2008 or a subsequent year is not less than the amount shown in column 1 of an item in Table L and, if an amount is shown in column 2 of that item, less than the amount shown in column 2 of that item, the duty of land tax payable on the land is the amount determined in accordance with column 3 of that item.
s. 21

TABLE L

Item	Column 1	Column 2	Column 3
	$	$
1.	0	20 000	Nil
2.	20 000	200 000	$75 and 0·375 cents for each $1 of the value that exceeds $20 000
3.	200 000	540 000	$750 and 0·575 cents for each $1 of the value that exceeds $200 000
4.	540 000	900 000	$2705 and 0·875 cents for each $1 of the value that exceeds $540 000
5.	900 000	1 190 000	$5855 and 1·375 cents for each $1 of the value that exceeds $900 000
6.	1 190 000	1 620 000	$9843 and 1·875 cents for each $1 of the value that exceeds $1 190 000
7.	1 620 000	2 700 000	$17 905 and 1·706 cents for each $1 of the value that exceeds $1 620 000
8.	2 700 000		$36 330 and 3 cents for each $1 of the value that exceeds $2 700 000".

__________________