Australian Capital Territory Consolidated Acts

LAND RENT ACT 2008 - SECT 29

    (1)     This section applies to a land rent lease if, in a year—

        (a)     the lessee starts paying land rent because the lease was transferred to the lessee; or

        (b)     the lessee stops paying land rent because the lease has been varied to reduce the rent payable to a nominal rent; or

        (c)     the lessee stops paying land rent because the lessee transferred the lease.

    (2)     The amount of land rent payable by the lessee for the lease for the year is the amount worked out as follows:

    (3)     In this section:

"land rent otherwise payable for year" means the land rent that would have been payable by a lessee if the lessee were the lessee under a land rent lease for the whole year.

"lessee's rental days in year" means the number of days in a year that the lessee was liable to pay land rent under the land rent lease.