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This is a Bill, not an Act. For current law, see the Acts databases.
RATES AND LAND TAX AMENDMENT BILL 2003 (NO 2)
2003
THE LEGISLATIVE ASSEMBLY
FOR THE AUSTRALIAN CAPITAL
TERRITORY
(As presented)
(Treasurer)
Rates and
Land Tax Amendment Bill 2003 (No 2)
Contents
Page
2003
THE LEGISLATIVE ASSEMBLY
FOR THE AUSTRALIAN CAPITAL
TERRITORY
(As presented)
(Treasurer)
Rates and Land Tax
Amendment Bill 2003 (No 2)
A Bill for
An Act to amend the
Rates and Land Tax Act
1926
The Legislative Assembly for the Australian Capital Territory enacts as
follows:
This Act is the Rates and Land Tax Amendment Act 2003 (No
2).
This Act commences immediately after the commencement of the Revenue
Legislation Amendment Act 2002 (No 2), part 4.
Note The naming and commencement provisions automatically commence
on the notification day (see Legislation Act, s 75 (1)).
This Act amends the Rates and Land Tax Act 1926.
4 ImpositionSection
13 (2)
omit
$300
insert
$320
substitute
(3) Rates are imposed in relation to each parcel of residential or
commercial land that has an average unimproved value of more than $19 000
in accordance with the following formula:
$320 + ((AUV - $19 000) × P).
(4) Rates are imposed in relation to each parcel of rural land that has an
average unimproved value of more than $19 000 in accordance with the
following formula:
(AUV - $19 000) × P.
(5) In this section:
AUV means the average unimproved value of the parcel of
land.
P means—
(a) for a parcel of residential land—0.5103%; or
(b) for a parcel of commercial land—1.2694%; or
(c) for a parcel of rural land—0.25515%.
6 Imposition
and assessment of rates—certain qualifying parcels of
landSection 22GM (2)
substitute
(2) In its application to the imposition of rates in relation to a parcel
of land to which this section applies, section 13 has effect as if subsections
(3), (4) and (5) of that section were omitted and the following subsections
substituted:
‘(3) Rates are imposed in relation to each parcel of residential or
commercial land that has an average unimproved value of more than $19 000
in accordance with the following formula:
$320 + [(AUV
- $19 000)
× ({NRP × 1.2694%}
+ {RP × 0.5103%})].
‘(4) In this section:
AUV means the average unimproved value of the parcel of
land.
NRP means the percentage of the development or intended
development, determined under section 22GL, that is to be used for
non-residential purposes.
RP means the percentage of the development or intended
development, determined under section 22GL, that is to be used for residential
purposes.’.
Endnotes
Republications of amended laws
For the latest republication of amended laws, see
www.legislation.act.gov.au.
© Australian Capital Territory
2003
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