Queensland Consolidated Acts

LAND TAX ACT 1915 - SECT 11C

(1) Subject to this section, but notwithstanding any other provision of this Act, the amount of land tax payable in respect of land owned by a company in which all the issued shares are owned by persons each of whom, by virtue of the person's shares, has an exclusive right to occupy a part of a building situated on land owned by the company is the amount that would otherwise be payable less, in respect of the home units forming part of the building, an amount calculated as follows--

a x t

where--

a means the proportion of the relevant unimproved value of the land on which the building is situated that is, pursuant to the regulations, notionally occupied by home units.

t means the amount of land tax which would be payable by the company in respect of that land.

(1A) For the purposes of this section, the amount that would otherwise be payable is t, calculated as follows--

(a) divide the relevant unimproved value of the company land by the number of units on the land;

(b) ascertain the tax payable on that amount;

(c) multiply the tax payable on that amount by the number of units.

(2) Except where the commissioner in the commissioner's absolute discretion determines otherwise, subsection (1) does not apply in respect of home units that form part of a building unless the company lodges with the commissioner, in the prescribed manner and within the prescribed time, a return setting forth such information as is prescribed.

(2A) Where a home unit is used as the principal place of residence of all the beneficiaries of a trust referred to in subsection (4), definition home unit, paragraph (b) and a beneficiary of that trust bears to a beneficiary of another trust the relationship of mother, father, sister, brother, spouse, stepmother, stepfather, stepsister or stepbrother and the trustee of that other trust has obtained the benefit of a deduction under section 11(6D) or 11B(3A), in calculating the amount of land tax payable by a company under this section and notwithstanding anything else contained in this section that home unit shall be taken not to be a home unit unless the commissioner is satisfied that the trusts were not established by or on the instructions of the same person.

(2B) Where a home unit is used as the principal place of residence of all the beneficiaries of a trust referred to in subsection (4), definition home unit, paragraph (b) and a beneficiary of that trust bears to a beneficiary of another trust or the beneficiaries of other trusts the relationship of mother, father, sister, brother, spouse, stepmother, stepfather, stepsister or stepbrother and the firstmentioned trust and that other trust or, as the case may be, those other trusts were established by or on the instructions of the same person and the property or part of the property the subject of that other trust or those other trusts consists of shares which entitle the holder thereof to the exclusive use of a unit or units and that unit is a home unit or, as the case may be, those units are home units, in calculating the amount of land tax payable by a company or companies under this section and notwithstanding anything else contained in this section only 1 of the home units referred to in this subsection (being the one selected by the commissioner for the purpose) shall be taken to be a home unit.

(3) Regulations may be made under section 61 with respect to the following--

(a) providing, for the purposes of subsection (1), for the method of determining the proportion of the relevant unimproved value of the land on which the building is situated that is to be taken as being notionally occupied by the home units;

(b) providing for proof (to the satisfaction of the commissioner), to be supplied as to the floor area of each home unit;

(c) providing for a return referred to in subsection (2) to contain or to be accompanied by a statement containing the prescribed information completed by each person who, by virtue of the person's shares in the company, had an exclusive right to occupy a home unit at midnight on 30 June immediately preceding the financial year in and for which the land tax is levied.

(4) In this section--

home unit means a unit that--

(a) forms part of a building comprising 2 or more units; and

(b) is used as the person's principal place of residence by a person entitled so to do by reason of the person being the holder of shares in a company that owns the parcel of land on which the building is situated or, where those shares are held in trust, is used as the principal place of residence of all the beneficiaries of the trust who were such beneficiaries at midnight on 30 June immediately preceding the financial year in and for which the land tax is levied.

unit means a room or suite of rooms constructed, designed or adapted for use as a dwelling.

(5) This section applies whether the land on which the building is situated is owned by the company in the capacity of a trustee or in any other capacity.