New South Wales Consolidated Acts

MORATORIUM ACT 1932 - SECT 34B

34B Covenants or agreements as to payment by mortgagor of Commonwealth Land Tax

Where under any covenant or agreement in any mortgage executed before or after the commencement of the Moratorium (Amendment) Act 1950 , the mortgagor is under a liability to pay or indemnify the mortgagee against the payment of any tax levied upon the mortgagee in respect of the mortgaged property under the Land Tax Assessment Act 1910-1947 of the Parliament of the Commonwealth of Australia, such covenant or agreement shall, except as to the amount of tax which would have been levied upon the mortgagee had the land the subject of the mortgage been the only land in respect of which the mortgagee was liable for any such tax, be absolutely void.
This section shall apply only to any such tax as is levied in respect of any period subsequent to the thirtieth day of June, one thousand nine hundred and fifty.