New South Wales Consolidated Acts

LAND TAX MANAGEMENT ACT 1956 - SECT 62J

62J Land that is eligible to have unutilised value ascertained

(1) Land is eligible to have an unutilised value allowance ascertained for its land value as at 1 July in a year if it satisfies the description in either of the following paragraphs as at midnight on 30 June in that year:

(a) a parcel of land used or occupied solely as the site of a single dwelling-house and which is, under an environmental planning instrument, zoned or otherwise designated for use for the purposes of industry, commerce or the erection of residential flat buildings,

(b) a parcel of land (which may comprise one or more lots or portions in a current plan within the meaning of the Conveyancing Act 1919 ) used or occupied solely as the site of a single dwelling-house and which is, under an environmental planning instrument, zoned or otherwise designated, so as to permit its subdivision for residential purposes,

(c) a parcel of rural land (which may comprise one or more lots or portions in a current plan within the meaning of the Conveyancing Act 1919 ) which is zoned or otherwise designated under an environmental planning instrument so as to permit its use otherwise than as rural land, or its subdivision into two or more lots or portions, one or more of which has an area of less than 40 hectares.