Victorian Current Acts

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WINDFALL GAINS TAX ACT 2021 - SECT 3

Definitions

    (1)     In this Act—

"capital improved value" has the same meaning as in the Valuation of Land Act 1960 ;

S. 3(1) def. of charitable land amended by No. 38/2023 s. 19(a).

"charitable land" means land, or part of land, that is—

        (a)     owned by a charity; and

        (b)     used and occupied by a charity exclusively for charitable purposes;

"charity" means—

        (a)     a charitable institution; or

        (b)     a person who holds land on trust for charitable purposes;

CIV1 —see sections 12(a) and 13(1)(a);

CIV2 —see sections 12(b) and 13(1)(b);

"controlling interest"—

        (a)     in relation to a corporation—see section 23; or

        (b)     in relation to a trust—see section 25(2);

"corporation" has the same meaning as in section 9 of the Corporations Act;

"discretionary trust" has the same meaning as in section 3(1) of the Land Tax Act 2005 ;

S. 3(1) def. of excluded rezoning amended by No. 38/2023 s. 19(b).

"excluded rezoning" means—

        (a)     a rezoning between schedules in the same zone; or

        (b)     a rezoning that causes land to be brought within the contribution area within the meaning of section 201RC of the Planning and Environment Act 1987 ; or

        (c)     the first rezoning of land that was in the contribution area within the meaning of section 201RC of the Planning and Environment Act 1987 immediately before that rezoning; or

        (d)     a rezoning that causes land that was not in a public land zone to be in a public land zone; or

        (e)     a rezoning that causes land that was in a public land zone to be in a different public land zone; or

        (f)     a rezoning that causes land to be in a zone declared under subsection (2)(a) to be an excluded zone; or

        (g)     a rezoning of land that, immediately before the rezoning, was in a zone declared under subsection (2)(b);

"general valuation" has the same meaning as in the Valuation of Land Act 1960 ;

"group" means a group constituted under Division 4 of Part 3;

"joint owners" means persons who are owners of land jointly or in common, whether as partners or otherwise;

"non-rateable leviable land" has the same meaning as in the Fire Services Property Levy Act 2012 ;

"non-rateable non-leviable land" has the same meaning as in the Valuation of Land Act 1960 ;

"owner", in relation to land, means—

        (a)     if the land is under the Transfer of Land Act 1958 —the registered proprietor of the land within the meaning of section 4(1) of that Act; or

        (b)     if the land is not under the Transfer of Land Act 1958 —the holder of an estate in fee simple in the land;

"Planning Minister" means the Minister administering Part 3 of the Planning and Environment Act 1987 ;

"planning scheme" means a planning scheme in force under the Planning and Environment Act 1987 ;

"public land zone" means a public land zone under a planning scheme;

"rateable land" has the same meaning as in the Local Government Act 1989 ;

"related corporation"—see section 22;

"related trust"—see section 25(1);

"rezoning" means an amendment of a planning scheme that causes land to be in a different zone from the zone that it was in immediately before the amendment;

"taxable value uplift"—see section 10;

"valuation authority" has the same meaning as in the Valuation of Land Act 1960 ;

"value uplift"—see section 11;

"Victoria Planning Provisions" has the same meaning as in section 3(1) of the Planning and Environment Act 1987 ;

"WGT event" means a rezoning other than an excluded rezoning;

"windfall gains tax" means tax imposed by section 6;

"zone" means a zone under a planning scheme.

    (2)     The Treasurer, by notice published in the Government Gazette, may declare—

        (a)     a zone to be an excluded zone for the purposes of paragraph (f) of the definition of excluded rezoning in subsection (1); and

        (b)     a zone to be a zone for the purposes of paragraph (g) of the definition of excluded rezoning in subsection (1).



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