New South Wales Consolidated Acts

VALUATION OF LAND ACT 1916 - SECT 14M

14M Exclusion of allowances in certain circumstances

(1) For the purposes of the Land Tax Management Act 1956 , the land value of a parcel of land is taken not to include an allowance for profitable expenditure in respect of any land tax year:

(a) if the owner of the land was not the owner of the land when the profitable expenditure was incurred, or

(b) if the profitable expenditure was incurred by an occupier or lessee of the land, and the occupancy or lease has been transferred or surrendered or has expired since that expenditure was incurred, or

(c) in the case of land zoned or otherwise designated for use for any purpose (other than rural or non-urban purposes) under a planning instrument, if any building or structure has been erected or any works have been carried out on the land, or

(d) if the profitable expenditure was incurred more than 15 years before the date by reference to which the land value is being determined, or

(e) if, as at 31 December before the beginning of that year, the parcel of land was no longer owned by the person by whom the profitable expenditure was incurred,

and land tax under that Act is to be assessed and levied accordingly.

(2) For the purposes of the Local Government Act 1993 , the land value of a parcel of land is taken not to include an allowance for profitable expenditure in respect of any rating year:

(a) if the owner of the land was not the owner of the land when the profitable expenditure was incurred, or

(b) if the profitable expenditure was incurred by an occupier or lessee of the land, and the occupancy or lease has been transferred or surrendered or has expired since that expenditure was incurred, or

(c) in the case of land zoned or otherwise designated for use for any purpose (other than rural or non-urban purposes) under a planning instrument, if any building or structure has been erected or any works have been carried out on the land, or

(d) if the profitable expenditure was incurred more than 15 years before the date by reference to which the land value is being determined, or

(e) if, as at 30 June before the beginning of that year, the parcel of land was no longer owned by the person by whom the profitable expenditure was incurred,

and rates and charges under that Act are to be assessed and levied accordingly.