Australian Capital Territory Consolidated Acts

LAND TAX ACT 2004 - SECT 16

    (1)     This section applies to a parcel of residential land that is not rented and is owned by—

        (a)     1 or more people who are corporations or trustees; and

        (b)     1 or more people who are not corporations or trustees.

    (2)     In working out the land tax payable for the parcel of land under section 9 (Imposition of land tax), the average unimproved value of the land is the amount worked out in accordance with the following formula:

    (3)     In subsection (2):

"AI" means the value of all interests in the parcel of land.

"AUV" means the average unimproved value of the parcel of land under the Rates Act 2004 .

"C&TI" means the value of all interests in the parcel of land held by corporations and trustees.

    (4)     Any land tax payable for the parcel of land is payable by the owners of the land who are corporations or trustees.