Victorian Numbered Acts

STATE TAXATION ACTS AMENDMENT ACT 2015 (NO. 26 OF 2015) - SECT 29

    (1)     For the note at the foot of section 35(1) of the Land Tax Act 2005 substitute —

" Note

Schedule 1 sets out 5 different rates of land tax. Part 1 sets out the general rates of land tax, Part 2 sets out the rate of land tax on transmission easements, Part 3 sets out the land tax surcharge rates for trusts (see also Division 2A of this Part), Part 4 sets out the general absentee owner land tax surcharge rates and Part 5 sets out the land tax surcharge rates for absentee trusts (see also Division 2AB of this Part).".

    (2)     After section 35(1) of the Land Tax Act 2005 insert —

    "(1A)     In the case of land owned by an absentee owner, the rate of special land tax is 5·5% of the taxable value of the land.".

    (3)     In section 35(2) of the Land Tax Act 2005 , for "The rate" substitute "In any other case, the rate".