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This is a Bill, not an Act. For current law, see the Acts databases.
REVENUE LEGISLATION AMENDMENT BILL 2003 ( NO 3 )
2003
THE LEGISLATIVE ASSEMBLY
FOR THE AUSTRALIAN CAPITAL
TERRITORY
(As presented)
(Treasurer)
Revenue
Legislation Amendment Bill 2003 (No 3)
Contents
Page
2003
THE LEGISLATIVE ASSEMBLY
FOR THE AUSTRALIAN CAPITAL
TERRITORY
(As presented)
(Treasurer)
Revenue Legislation
Amendment Bill 2003 (No 3)
A Bill for
An Act to amend the
Rates and Land Tax Act
1926 and the
Taxation Administration Act 1999
The Legislative Assembly for the Australian Capital Territory enacts as
follows:
This Act is the Revenue Legislation Amendment Act 2003
(No 3).
This Act commences on the day after its notification day.
Note The naming and commencement provisions automatically commence
on the notification day (see Legislation Act, s 75 (1)).
Part
2 Rates and Land Tax Act
1926
This part amends the Rates and Land Tax Act 1926.
substitute
24A Unit subdivisions
(1) For this Act, if a parcel of land is subdivided by the registration of
a units plan (a unit subdivision), the land making up the parcel
is taken to continue to be a single parcel of land.
(2) Without limiting subsection (1), a determination of the unimproved
value of a parcel of land that is a unit subdivision is a determination of the
unimproved value of the parcel.
(3) However, in the application of this Act to a unit
subdivision—
(a) a reference to a parcel of land in relation to the assessment or
payment of rates or land tax is a reference to a unit; and
(b) a reference to the owner is—
(i) in relation to the assessment or payment of rates or land tax—a
reference to the unit owner; and
(ii) in relation to a notice of transfer—a reference to the unit
owner; and
(iii) in relation to any other notice—a reference to the owners
corporation.
(4) If rates and land tax (if any) imposed for the parcel for the year, or
the quarter, when the units plan is registered are not paid before the
registration of the units plan, they are payable by the person who was the owner
of the parcel on the day before the day when the units plan was
registered.
(5) On and after 1 July after the day when the units plan is registered
or, if it is registered on 1 July, on and after that 1 July—
(a) the rates imposed for the parcel are payable by the unit owners;
and
(b) the amount payable by each unit owner is an amount worked out under
subsection (6); and
(c) no rates for the parcel are payable by the owners
corporation.
(6) Section 13 (Imposition) applies to impose rates on a unit that is part
of a unit subdivision as if a reference to the average unimproved value for the
unit were a reference to the amount worked out in accordance with the following
formula:
(7) On and after the 1st day of the next quarter after the day when the
units plan is registered or, if it is registered on the 1st day of a quarter, on
and after that day—
(a) any land tax imposed under this Act for the parcel of land is payable
by the unit owners whose units are subject to land tax; and
(b) the amount payable by each owner whose unit is subject to land tax is
worked out under subsection (8); and
(c) no land tax for the parcel is payable by the owners
corporation.
(8) In working out the land tax payable for the parcel of land under
section 22A (Imposition of land tax), the average unimproved value of the unit
is the amount worked out in accordance with the following formula:
(9) In this section:
AUV means the average unimproved value of the parcel of
land.
TUE means the unit entitlement of all the units in the units
plan.
UE means the unit entitlement of the particular
unit.
(10) If an amount worked out under this section contains a fraction of a
cent, the amount must be rounded to the nearest cent, with ½ a cent being
disregarded.
(11) Expressions used in this section have the same meanings as in the
Unit Titles Act 2001.
insert
25 Application of amendments of s
24A
(1) Section 24A as amended by the Revenue Legislation Amendment Act
2003 (No 3) applies, and is taken to have applied on and from 1 August
1991, in relation to a parcel of land subdivided by the registration of a units
plan whether before, on or after that date.
(2) However, section 24A as so amended is
taken to have applied—
(a) in relation to the period from 1 August
1991 to 1 July 1995—as if—
(i) the reference in subsection (4) to a quarter were
omitted; and
(ii) any other reference to a quarter were a reference to a
year; and
(b) in relation to the period from 1 August 1991 to 5 October
2001—as if—
(i) a reference in that section to an
owners corporation were a
reference to a corporation; and
(ii) a reference in that section to a
unit owner were a reference to
a member of a corporation; and
(iii) a reference to the Unit Titles
Act 2001 were a reference to the Unit
Titles Act 1970.
(3) This section expires 1 year after the day it commences.
Part
3 Taxation Administration Act
1999
This part amends the Taxation Administration Act 1999.
7 Meaning
of tax lawsNew section 4
(ha)
insert
(ha) the Taxation (Administration) Act 1987;
renumber paragraphs when Act next republished under the Legislation
Act
insert
143A Application of secrecy provisions to former
Act
On and after the commencement of this section, division 9.4 (Secrecy)
applies in relation to a confidential document or confidential information
acquired under, or as a result of exercising functions under or in relation to,
the Taxation (Administration) Act 1987.
10 Expiry
of pt 12Section 144
(2)
omit
141 to 143
substitute
141 to 143A
omit
142-144
substitute
142-143
Endnote
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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