Tasmanian Consolidated Acts

LAND TAX ACT 2000 - SECT 26

      (1) If principal residence land is used for other purposes, not including a qualifying home business, in addition to the principal residence of an owner or a related person of the owner, the Commissioner is to apportion the land value of the land between principal residence land and general land.

      (2) The apportioned assessed land value in respect of principal residence land used as the principal residence is determined –

(a) if the principal residence is used for principal residence purposes and other purposes but no part of the principal residence is used in common for both principal residence purposes and other purposes (in this subsection called the"common floor area"), by multiplying the assessed land value by the proportion of the floor area of the principal residence used as a principal residence; or

(b) if the principal residence is used for principal residence purposes and other purposes and part of the principal residence is common floor area, by multiplying the assessed land value by the proportion of the principal residence used for principal residence purposes calculated in accordance with the following formula:

"FAP" is the floor area apportioned as used for principal residence purposes;

"FP" is the floor area used for principal residence purposes;

"FNP" is the floor area used for purposes other than principal residence purposes;

"C" is the common floor area; or

(c) if principal residence land is used for principal residence purposes and other purposes, by multiplying the assessed land value by the proportion of land used for principal residence purposes.

      (3) The apportioned assessed land value in respect of general land is the assessed land value less the apportioned assessed land value in respect of principal residence land.