Western Australian Numbered Acts Western Australian Numbered Acts (1) The owner of
private residential property may apply to the Commissioner in the approved
form for a rebate under this section.
(2) The owner of
private residential property is entitled to a rebate of the land tax payable
for an assessment year on the aggregated unimproved value of all the
applicant’s land if —
(a) the
private residential property is in an area of the State prescribed as an inner
city area, and is also in an area that is the subject of a town planning
scheme, or a redevelopment scheme in force under the East Perth Redevelopment
Act 1991 , where the land is not zoned for use solely for residential
purposes;
(b) the
construction of the private residence that forms part of the private
residential property was completed before or during the assessment year;
(c) the
private residence was occupied, or fit to be occupied and intended by the
owner to be occupied, as a place of residence for one or more individuals,
during the assessment year or during the part of the assessment year remaining
after the construction is completed, as the case requires;
(d) the
private residential property is not exempt for the assessment year under
another provision of this Division; and
(e) the
aggregated unimproved value of all the applicant’s taxable land is
greater than it would have been if the private residential property had been
in an area zoned solely for residential purposes.
(3) The amount of the
rebate is calculated using the following formula —
R = (LT – RE)
where —
LT is greater than RE;
R is the rebate;
LT ("land tax") is the
land tax levied on the aggregated unimproved value of all the taxable land
owned by the applicant;
RE ("residential
equivalent") is the amount of land tax that would be payable for the
assessment year on the aggregated unimproved value of all the taxable land
owned by the applicant if the private residential property were valued at its
residential equivalent value as defined in subsection (7).
(4) The Commissioner
may, by notice served on an applicant, relieve the applicant from the
obligation to apply for a rebate for each assessment year and may, by further
notice, reimpose that obligation upon the applicant.
(5) If the private
residential property ceases to comply with subsection (1)(a), (b), (c) or
(d), or the area of the property is reduced, the owner must notify the
Commissioner to that effect before the beginning of the next assessment year,
or within 3 months of the day on which compliance stopped or the property
was reduced in area, whichever is later.
Penalty: $5 000.
(6) The Commissioner
is to make any reassessment necessary to give effect to this section.
(7) In
subsection (3) —
"residential equivalent value", in relation to
private residential property referred to in subsection (2), means the
unimproved value of the property determined as if the property were zoned
solely for residential purposes under the town planning scheme or
redevelopment scheme that applies to the property.