South Australian Consolidated Acts South Australian Consolidated Acts22A—Notional valuations to be made in certain cases
(1) The owner of land
is entitled to the benefit of this section in respect of the valuation of land
by a valuing authority if—
(a) the
owner—
(i)
has an estate of fee simple in the land; or
(ii)
holds the land by virtue of a Crown lease, or an
agreement to purchase from the Crown; or
(iii)
is the occupier of the land by virtue of his or her
shareholding in a body corporate of a kind referred to in
paragraph (b)(ii); and
(b) the
conditions laid down in any one of the following subparagraphs are satisfied:
(i)
the owner of the land is a natural person, the land
constitutes his or her principal place of residence, and is not used for any
commercial or industrial purpose; or
(ii)
the land is vested in a body corporate and—
(A) the whole of the land vested in the
body corporate consists of a group of dwellings and land appurtenant to those
dwellings; and
(B) all issued shares of the body corporate
are owned by shareholders who acquire exclusive rights to occupy land of the
body corporate by virtue of their shareholdings; and
(C) the land constitutes the principal
place of residence of a natural person who is a shareholder in the body
corporate; and
(D) the land is not used for a commercial
or industrial purpose; or
(iii)
the land is used for the business of primary production;
and
(c) the
value of the land is, in the opinion of the relevant valuing authority,
enhanced by—
(i)
an existing division of the land; or
(ii)
a potential for division of the land; or
(iii)
a potential for use of the land otherwise than in the
manner referred to in the relevant subparagraph of paragraph (b).
(2) Where a
valuing authority is satisfied that a person is entitled to the benefit of
this section it may, and must at the request of that person, value the land as
if the existing division or potential for division or use referred to in
subsection (1)(c) did not exist and any such valuation will operate for
the purposes of any rating or taxing Act under which rates, taxes or imposts
are levied or imposed on the land on the basis of the valuations of that
valuing authority.
(2a) A valuation made
under subsection (2) at the request of a person only operates in relation
to a rate, tax or other impost—
(a) if
the request was made in the last month of a financial year—in respect of
a financial year subsequent to the financial year immediately following that
in which the request was made; or
(b) in
any other case—in respect of a financial year subsequent to the
financial year in which the request was made.
(3) Where a
valuing authority makes a valuation under the provisions of
subsection (2), it must inform the owner of the land, in writing, of the
valuation and of the owner's obligations under subsection (6).
(4) When land is
valued under the provisions of subsection (2), it must also be valued as
if the owner were not entitled to the benefit of this section, and the latter
valuation will take effect for the purpose of a rating or taxing Act if—
(a) the
owner ceases to be entitled to the benefit of this section; or
(b) a
person who is not entitled to the benefit of this section becomes the owner of
the land.
(6) Where land has
been valued under this section and—
(a)
circumstances occur by virtue of which the owner ceases to be entitled to the
benefit of this section; or
(b) the
owner enters into a transaction by virtue of which a change in the ownership
of the land may occur,
the owner must, subject to subsection (7), within 28 days inform the
relevant valuing authority of those circumstances, or that transaction, and
must furnish such further information as the valuing authority may require.
Maximum penalty: $5 000.
Expiation fee: $315.
(7) Where by virtue of
an Act a right to rescind or avoid a transaction exists, the obligation to
inform a valuing authority of the transaction does not arise unless the time
within which the right may be exercised expires and the right has not been
exercised within that time.
(8) In this
section—
"rating or taxing Act" means any of the rating or taxing Acts or any other Act
under which a rate, tax or impost is levied or imposed on land;
"valuing authority" means the Valuer-General or other authority responsible
for valuing land for the purposes of a rating or taxing Act.
(9) For the purposes
of the Land Tax Act 1936 a valuation under subsection (2) operates
only in relation to land used for the business of primary production.
(10) An apparently
genuine document purporting to be issued by a valuing authority and to certify
the date of receipt of a request under subsection (2) will, in the
absence of proof to the contrary, constitute proof of the matter so certified.