Victorian Numbered Acts

DUTIES AND LAND TAX ACTS (AMENDMENT) ACT 2005 (NO 85 OF 2005) - SECT 30

In Schedule 1 to the Land Tax Act 2005 , after Part 2 insert —

"PART 3—SURCHARGE RATES OF LAND TAX FOR TRUSTS

        3.1     Land tax for trusts for 2006

        The rate of land tax for 2006 for land held by an owner subject to a trust is set out in Table 3.1.

TABLE 3.1

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

        3.2     Land tax for trusts for 2007

The rate of land tax for 2007 for land held by an owner subject to a trust is set out in Table 3.2.

TABLE 3.2

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

        3.3     Land tax for trusts for 2008 and subsequent years

The rate of land tax for 2008 and each subsequent year for land held by an owner subject to a trust is set out in Table 3.3.

TABLE 3.3

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