New South Wales Consolidated Acts

LAND TAX MANAGEMENT ACT 1956 - SECT 62TB

62TB Tax threshold-pre-2005 land tax year

(1) The tax threshold for the 1998 land tax year is $160,000.

(2) The tax threshold for a land tax year subsequent to the 1998 land tax year and before the 2005 land tax year is to be determined in accordance with the following formula, subject to subsection (3):

(3) The tax threshold for a succeeding land tax year is to remain the same as for the previous land tax year if the tax threshold determined in accordance with the formula in subsection (2) for the succeeding land tax year is equal to or less than the tax threshold for the previous year.

(4) A tax threshold determined in accordance with this section is to be rounded off to the nearest $1,000.

(5) On or before 15 October in each year before 2004, the Valuer-General is to publish the tax threshold applicable to the following land tax year in the Gazette.