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PARLIAMENT OF VICTORIA
Land Tax (Amendment) Act 1997
Act No.
TABLE OF PROVISIONS
Clause Page
1. Purpose 1
2. Commencement 1
3. Minimum assessment of land tax 2
4. Rates and thresholds for land tax 2
NOTES 4
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Clause Page
THIS PAGE IS TO BE MASKED
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PARLIAMENT OF VICTORIA
A BILL
to amend the Land Tax Act 1958 and for other purposes.
Land Tax (Amendment) Act 1997
The Parliament of Victoria enacts as follows:
1. Purpose
The purpose of this Act is to amend the Land Tax
Act 1958 to alter the rates and thresholds for land
tax.
5 2. Commencement
This Act comes into operation on the day on
which it receives the Royal Assent.
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Land Tax (Amendment) Act 1997
s. 3
Act No.
3. Minimum assessment of land tax
No. 6289. In section 7A of the Land Tax Act 1958--
Reprinted as
(a) after "year" (where first occurring) insert
at 1 February
1997. Further
"after 1997";
amended by
Nos 31/1997
5 (b) for "$60" substitute "$85".
and 40/1997.
4. Rates and thresholds for land tax
(1) In clause 1B(5) of the Second Schedule to the
Land Tax Act 1958 omit "and each subsequent
year".
10 (2) After clause 2 of the Second Schedule to the Land
Tax Act 1958 insert--
"3. Land tax for 1998 and subsequent years
If the total unimproved value of land of an owner as
assessed under this Act for 1998 or a subsequent year
15 is not less than the amount shown in column 1 of an
item in Table C and, if an amount is shown in column
2 of that item, less than the amount shown in column
2 of that item, the duty of land tax payable on the land
is the amount determined in accordance with column
20 3 of that item.
TABLE C
Item Column 1 Column 2 Column 3
$ $
1. 0 85 000 Nil
2. 85 000 200 000 $85 and 0·1
cents for each
$1 of the value
that exceeds
$85 000
3. 200 000 540 000 $200 and 0·2
cents for each
$1 of the value
that exceeds
$200 000
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Land Tax (Amendment) Act 1997
s. 4
Act No.
Item Column 1 Column 2 Column 3
$ $
4. 540 000 675 000 $880 and 0·5
cents for each
$1 of the value
that exceeds
$540 000
5. 675 000 810 000 $1555 and
1 cent for each
$1 of the value
that exceeds
$675 000
6. 810 000 1 080 000 $2905 and 1·75
cents for each
$1 of the value
that exceeds
$810 000
7. 1 080 000 1 620 000 $7630 and 2·75
cents for each
$1 of the value
that exceeds
$1 080 000
8. 1 620 000 2 700 000 $22 480 and
3 cents for each
$1 of the value
that exceeds
$1 620 000
9. 2 700 000 $54 880 and
5 cents for each
$1 of the value
that exceeds
$2 700 000".
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Land Tax (Amendment) Act 1997
Notes
Act No.
NOTES
By Authority. Government Printer for the State of Victoria.
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