Victorian Bills Victorian Bills[Index] [Search] [Download] [Related Items] [Help]
This is a Bill, not an Act. For current law, see the Acts databases.
PARLIAMENT OF VICTORIA
Land Tax (Amendment) Act 2004
Act No.
Victorian Legislation Parliamentary Documents
TABLE OF PROVISIONS
Clause Page
PART 1--PRELIMINARY 1
1. Purposes 1
2. Commencement 2
PART 2--AMENDMENT OF LAND TAX ACT 1958 3
3. Principal Act 3
4. Definitions 3
5. New section 3B inserted 5
3B. Values of transmission easements to be used for
assessing tax 5
6. New Part IIB inserted 7
PART IIB--NATURE OF TAXATION OF
TRANSMISSION EASEMENTS 7
13M. Rate of land tax for transmission easements 7
13N. Method of assessment 8
13O. Land tax in respect of transmission easements a debt
due to the State 8
13P. Exemption from land tax 8
13Q. Prohibition on passing on land tax in respect of
transmission easements 9
13R. Assessment and liability of joint transmission
easement holders 10
13S. Dispositions, transfers etc. of transmission easements 12
13T. Transmission companies and related bodies corporate 13
13U. Agreements relating to the payment of tax 14
7. Form and time of making of returns of land 14
8. Service of assessment 15
9. Objections 15
10. New section 38A inserted 16
38A. Part IV not to apply to tax assessed, charged, levied
and collected under Part IIB 16
11. Dates for payment of tax to be stated in notice of assessment 16
12. Tax to be a first charge on land 16
i
551164B.A1-20/4/2004 BILL LA AS SENT 21/4/2004
Clause Page
13. Remedy against lessee mortgagee or occupier if taxpayer makes
default 16
14. Amendment of the Second Schedule 16
PART 3--AMENDMENT OF VALUATION OF LAND ACT 1960 19
Victorian Legislation Parliamentary Documents
15. Definitions 19
16. New section 5B inserted 19
5B. Valuation of transmission easements 19
17. Definitions in Division 1 of Part III 21
18. Rating authority must give notice of valuation 21
19. New section 15A inserted 21
15A. Commissioner must give notice of valuation of
transmission easements 21
20. Who may object? 22
21. New section 17A inserted 22
17A. Objections relating to valuation of transmission
easements under section 5B 22
ENDNOTES 23
ii
551164B.A1-20/4/2004 BILL LA AS SENT 21/4/2004
PARLIAMENT OF VICTORIA
Initiated in Assembly 31 March 2004
As amended by Assembly 20 April 2004
Victorian Legislation Parliamentary Documents
A BILL
to amend the Land Tax Act 1958 and the Valuation of Land
Act 1960 and for other purposes.
Land Tax (Amendment) Act 2004
The Parliament of Victoria enacts as follows:
PART 1--PRELIMINARY
1. Purposes
The purposes of this Act are to--
(a) amend the Land Tax Act 1958 to provide
for the taxation of easements held by
5
electricity transmission companies; and
(b) make related amendments to the Valuation
of Land Act 1960.
1
551164B.A1-20/4/2004 BILL LA AS SENT 21/4/2004
Land Tax (Amendment) Act 2004
Act No.
Part 1--Preliminary
s. 2
2. Commencement
This Act comes into operation on the day after the
day on which it receives the Royal Assent.
Victorian Legislation Parliamentary Documents
__________________
2
551164B.A1-20/4/2004 BILL LA AS SENT 21/4/2004
Land Tax (Amendment) Act 2004
Act No.
Part 2--Amendment of Land Tax Act 1958
s. 3
PART 2--AMENDMENT OF LAND TAX ACT 1958
3. Principal Act
Victorian Legislation Parliamentary Documents
See:
In this Part, the Land Tax Act 1958 is called the Act No.
Principal Act. 6289.
Reprint No. 12
as at
13 June 2002.
and
amending
Act Nos
59/2003 and
113/2003.
LawToday:
www.dms.
dpc.vic.
gov.au
4. Definitions
5
(1) In section 3(1) of the Principal Act insert the
following definitions--
' "transmission company" has the same meaning
as in the Electricity Industry Act 2000;
"transmission easement" means an easement
10
held by a transmission company other than
an easement exempted by Order in Council
under section 13P(1)(b);
"transmission easement holder" means a
transmission company that holds a
15
transmission easement other than a
transmission easement holder exempted by
Order in Council under section 13P(1)(a);'.
(2) In section 3(1) of the Principal Act--
(a) for the definition of "taxable value"
20
substitute--
' "taxable value" means--
(a) in respect of any land or lands of
an owner for which a duty of land
tax is charged, levied and
25
3
551164B.A1-20/4/2004 BILL LA AS SENT 21/4/2004
Land Tax (Amendment) Act 2004
Act No.
Part 2--Amendment of Land Tax Act 1958
s. 4
collected under section 6, the total
unimproved value of the land;
(b) in respect of any transmission
easement or transmission
Victorian Legislation Parliamentary Documents
easements held by a transmission
5
easement holder for which a duty
of land tax is charged, levied and
collected under Part IIB, the total
value of the transmission
easement or transmission
10
easements;';
(b) in the definition of "taxpayer", after "land"
(where first occurring) insert "or in relation
to a transmission easement, the transmission
easement holder that holds that easement".
15
(3) After section 3(1A) of the Principal Act insert--
"(1B) For the purposes of this Act (except Parts II,
IIA and IV and the Second Schedule) every
reference to an owner of land is deemed to
include a transmission easement holder that
20
holds a transmission easement.
(1C) For the purposes of this Act, a transmission
easement holder holds a transmission
easement if the transmission easement has
been--
25
(a) acquired by the transmission easement
holder; or
(b) granted to, or reserved in favour of, the
transmission easement holder; or
(c) created by statute in favour of, or
30
vested by statute in, the transmission
easement holder.".
4
551164B.A1-20/4/2004 BILL LA AS SENT 21/4/2004
Land Tax (Amendment) Act 2004
Act No.
Part 2--Amendment of Land Tax Act 1958
s. 5
(4) In section 3(2) of the Principal Act--
(a) omit "the" (where secondly occurring);
(b) after "this Act" insert "(other than tax
Victorian Legislation Parliamentary Documents
charged, levied or collected under Part IIB)".
5. New section 3B inserted
5
After section 3A of the Principal Act insert--
'3B. Values of transmission easements to be
used for assessing tax
(1) For the purposes of assessing tax to be
charged, levied or collected under Part IIB--
10
(a) in respect of the period commencing on
1 July 2004 and ending 31 December
2004, the value of a transmission
easement is the value as at 1 January
2002 determined in a valuation made
15
under section 5B of the Valuation of
Land Act 1960;
(b) in respect of the 2005 and 2006 tax
years, the value of a transmission
easement is the value as at 1 January
20
2004 determined in a valuation made
under section 5B of the Valuation of
Land Act 1960;
(c) in respect of the 2007 tax year, the
value of a transmission easement is the
25
value as at 1 January 2004 determined
in a valuation made under section 5B of
the Valuation of Land Act 1960,
multiplied by the prescribed indexation
factor (if any) applying to the land
30
encumbered by the transmission
easement;
5
551164B.A1-20/4/2004 BILL LA AS SENT 21/4/2004
Land Tax (Amendment) Act 2004
Act No.
Part 2--Amendment of Land Tax Act 1958
s. 5
(d) in respect of the 2008 tax year, the
value of a transmission easement is the
value as at 1 January 2006 determined
in a valuation made under section 5B of
Victorian Legislation Parliamentary Documents
the Valuation of Land Act 1960;
5
(e) in respect of every tax year after
2008--
(i) if a valuation made under
section 5B of the Valuation of
Land Act 1960 has been used for
10
the purposes of assessing tax in
the year immediately preceding
the tax year, the value of a
transmission easement is the value
as at the relevant easement
15
valuation date determined in a
valuation made under section 5B
of the Valuation of Land Act
1960, multiplied by the prescribed
indexation factor (if any) applying
20
to the land encumbered by the
transmission easement;
(ii) if a valuation made under section
5B of the Valuation of Land Act
1960 has not been used for the
25
purposes of assessing tax in the
year immediately preceding the
tax year, the value of a
transmission easement is the value
as at the relevant easement
30
valuation date determined in a
valuation made under section 5B
of the Valuation of Land Act
1960.
6
551164B.A1-20/4/2004 BILL LA AS SENT 21/4/2004
Land Tax (Amendment) Act 2004
Act No.
Part 2--Amendment of Land Tax Act 1958
s. 6
(2) In this section--
"prescribed indexation factor" means the
prescribed indexation factor referred to
in section 3(3);
Victorian Legislation Parliamentary Documents
"relevant easement valuation date", in
5
respect of every tax year after 2008,
means the date as at which a valuation
of transmission easements was last
made in accordance with section 5B of
the Valuation of Land Act 1960, being
10
a date before 1 January in the year
immediately preceding the tax year.'.
6. New Part IIB inserted
After Part IIA of the Principal Act insert--
'PART IIB--NATURE OF TAXATION OF
15
TRANSMISSION EASEMENTS
13M. Rate of land tax for transmission
easements
Subject to this Act, on and from 1 July 2004,
there shall in the case of each transmission
20
easement holder that holds a transmission
easement be charged, levied and collected by
the Commissioner, and paid for the use of
the State in aid of the Consolidated Fund, a
duty of land tax for every dollar of the value
25
of each transmission easement in accordance
with--
(a) for the period commencing on 1 July
2004 and ending on 31 December 2004,
clause 4A of the Second Schedule; and
30
(b) for 2005 and every subsequent year,
clause 5 of the Second Schedule.
7
551164B.A1-20/4/2004 BILL LA AS SENT 21/4/2004
Land Tax (Amendment) Act 2004
Act No.
Part 2--Amendment of Land Tax Act 1958
s. 6
13N. Method of assessment
On and from 1 July 2004, tax in respect of
transmission easements shall in the case of
each transmission easement holder be
Victorian Legislation Parliamentary Documents
assessed, charged, levied and collected by
5
the Commissioner--
(a) for the period commencing on 1 July
2004 and ending on 31 December 2004,
on the total value of all transmission
easements held by the transmission
10
easement holder at midnight on
30 June 2004;
(b) for 2005 and every subsequent year, on
the total value of all transmission
easements held by the transmission
15
easement holder at midnight on
31 December immediately preceding
the year for which the tax is assessed,
charged, levied and collected.
13O. Land tax in respect of transmission
20
easements a debt due to the State
Every sum payable by a transmission
easement holder for tax under this Part in
respect of a transmission easement--
(a) is, when it falls due, deemed to be a
25
debt due to the State; and
(b) must immediately be paid by the
transmission easement holder to the
Commissioner.
13P. Exemption from land tax
30
(1) The Governor in Council, on the
recommendation of the Treasurer, may by
Order published in the Government Gazette
exempt--
8
551164B.A1-20/4/2004 BILL LA AS SENT 21/4/2004
Land Tax (Amendment) Act 2004
Act No.
Part 2--Amendment of Land Tax Act 1958
s. 6
(a) a transmission easement holder from
liability to pay tax assessed, charged
and levied under this Part; or
(b) a transmission easement, as specified in
Victorian Legislation Parliamentary Documents
the Order, from tax that may be
5
assessed, charged and levied under this
Part.
(2) In considering whether to recommend an
exemption under sub-section (1), the
Treasurer may have regard to--
10
(a) the need to promote the economic
development of Victoria; or
(b) the need to promote and not hinder the
development of energy infrastructure in
Victoria; or
15
(c) any other factor that the Treasurer
considers is appropriate.
13Q. Prohibition on passing on land tax in
respect of transmission easements
(1) A provision in an agreement to the effect that
20
the owner of land encumbered by a
transmission easement is liable, as owner, to
pay, or to reimburse the transmission
easement holder in respect of, any tax in
respect of any transmission easement that is
25
payable by the transmission easement holder
under this Part is void.
(2) This section applies to an agreement of the
kind referred to in sub-section (1) entered
into before, on or after the commencement of
30
section 6 of the Land Tax (Amendment)
Act 2004.
9
551164B.A1-20/4/2004 BILL LA AS SENT 21/4/2004
Land Tax (Amendment) Act 2004
Act No.
Part 2--Amendment of Land Tax Act 1958
s. 6
13R. Assessment and liability of joint
transmission easement holders
(1) Joint transmission easement holders are to be
assessed and liable for tax under this Part in
Victorian Legislation Parliamentary Documents
accordance with this section.
5
(2) Joint transmission easement holders are to be
jointly assessed and liable for tax under this
Part in respect of a transmission easement as
if held by a single person, without regard
to--
10
(a) the separate interest of each joint
transmission easement holder in that
transmission easement;
(b) any other transmission easement held
by a joint transmission easement holder
15
(either alone or jointly with someone
else).
(3) Each joint transmission easement holder is
also to be separately assessed and liable in
respect of--
20
(a) the joint transmission easement holder's
individual interest in the transmission
easement as if the transmission
easement holder were the holder of a
part of the transmission easement in
25
proportion to that interest; and
(b) any other transmission easement held
by a joint transmission easement holder
alone; and
(c) the joint transmission easement holder's
30
individual interest in any other
transmission easement.
10
551164B.A1-20/4/2004 BILL LA AS SENT 21/4/2004
Land Tax (Amendment) Act 2004
Act No.
Part 2--Amendment of Land Tax Act 1958
s. 6
(4) There is to be deducted from the tax payable
by a joint easement holder under sub-section
(3) an amount (if any) necessary to avoid
double taxation, being the lesser of--
Victorian Legislation Parliamentary Documents
(a) the amount determined by the formula:
5
A×B
where--
A is the proportion of the
transmission easement holder's
individual interest in the jointly-
owned transmission easement to
10
the total interests in that easement;
B is the total amount of tax assessed
on the jointly-owned transmission
easement under sub-section (2);
and
15
(b) the amount determined by the formula:
C
×E
D
where--
C is the value of the joint
transmission easement holder's
individual interest in the jointly-
20
owned transmission easement (as
determined under sub-section
(3)(a));
D is the total value of all
transmission easements of the
25
joint transmission easement holder
assessed under sub-section (3);
E is the amount of tax assessed
under sub-section (3).
11
551164B.A1-20/4/2004 BILL LA AS SENT 21/4/2004
Land Tax (Amendment) Act 2004
Act No.
Part 2--Amendment of Land Tax Act 1958
s. 6
(5) For the purposes of this section, a joint
transmission easement holder may be
separately assessed under sub-section (3) in
respect of a transmission easement even
Victorian Legislation Parliamentary Documents
though no tax is jointly assessable in respect
5
of that easement under sub-section (2).
(6) In this section "joint transmission
easement holder" means a transmission
easement holder who holds a transmission
easement jointly with another person.
10
13S. Dispositions, transfers etc. of transmission
easements
(1) A conveyance, transfer, settlement,
declaration of trust, or other disposition of a
transmission easement by a transmission
15
easement holder, whether entered into or
made before, on or after the commencement
of section 6 of the Land Tax (Amendment)
Act 2004, shall not be effective to exempt
the transmission easement holder from any
20
tax which would have become payable under
this Part in respect of such an easement had
the conveyance, transfer, settlement,
declaration of trust or other disposition not
taken place if following that conveyance,
25
transfer, settlement, declaration of trust or
other disposition the easement continues to
be, or may be, used by the transmission
easement holder.
(2) If the Commissioner is satisfied, having
30
regard to--
(a) the nature of the easement that is
conveyed, transferred, settled, the
subject of a declaration of trust, or
disposed of; or
35
12
551164B.A1-20/4/2004 BILL LA AS SENT 21/4/2004
Land Tax (Amendment) Act 2004
Act No.
Part 2--Amendment of Land Tax Act 1958
s. 6
(b) and any other matters the
Commissioner considers relevant--
that a transmission easement holder should
not pay any tax in respect of that easement
Victorian Legislation Parliamentary Documents
that may become payable by reason of sub-
5
section (1), the Commissioner may exempt
that transmission easement holder from tax
payable under this Part.
13T. Transmission companies and related
bodies corporate
10
(1) If a transmission company uses an easement
of a related body corporate of that
company--
(a) that easement is, for the purposes of
this Act, deemed to be a transmission
15
easement; and
(b) the transmission company is, for the
purposes of this Act, deemed to be a
transmission easement holder and may
be assessed and liable for tax under this
20
Part as if it held the transmission
easement.
(2) If the Commissioner is satisfied that, having
regard to--
(a) the nature of the easement being used
25
by the transmission company; and
(b) any other matters the Commissioner
considers relevant--
the transmission company should not be
liable for tax under this Part, the
30
Commissioner may treat that easement as not
being a transmission easement for the
purposes of this Part.
13
551164B.A1-20/4/2004 BILL LA AS SENT 21/4/2004
Land Tax (Amendment) Act 2004
Act No.
Part 2--Amendment of Land Tax Act 1958
s. 7
(3) In this section "related body corporate"
has the same meaning as in section 50 of the
Corporations Act.
13U. Agreements relating to the payment of tax
Victorian Legislation Parliamentary Documents
(1) The Commissioner may enter into an
5
agreement with a transmission easement
holder in relation to the payment of tax to be
assessed, charged, levied and collected under
this Part.
(2) An agreement under sub-section (1)--
10
(a) may, despite anything to the contrary in
this Act, permit the payment of the tax
to be by instalments within such time as
is set out in the agreement; and
(b) must not be for a period exceeding
15
5 years.
(3) Nothing in this section limits the operation
of section 91.'.
7. Form and time of making of returns of land
(1) After section 15(2) of the Principal Act insert--
20
"(2A) A transmission easement holder must, in
relation to any transmission easement
acquired by them, give notice--
(a) in the prescribed form containing the
prescribed particulars; and
25
(b) to prescribed persons; and
(c) within a prescribed period.".
14
551164B.A1-20/4/2004 BILL LA AS SENT 21/4/2004
Land Tax (Amendment) Act 2004
Act No.
Part 2--Amendment of Land Tax Act 1958
s. 8
(2) After section 15(4) of the Principal Act insert--
'(5) In sub-section (2A) "acquired", in relation
to a transmission easement, includes a
transmission easement granted to, reserved
Victorian Legislation Parliamentary Documents
in favour of, created by statute in favour of,
5
or vested by statute in, the transmission
easement holder.'.
8. Service of assessment
In section 21(3) of the Principal Act, for
"section 44" substitute "section 13R, 44".
10
9. Objections
(1) In section 24A(1) of the Principal Act, after
"Commissioner" (where first occurring) insert
"relating to a duty of land tax charged, levied and
collected under this Act other than Part IIB,".
15
(2) After section 24A(1) of the Principal Act insert--
"(1AA) A taxpayer who is dissatisfied with an
assessment of the Commissioner relating to a
duty of land tax charged, levied and
collected under Part IIB, may give to the
20
Commissioner within 60 days after service
of the notice of assessment an objection in
writing against the assessment stating fully
and in detail the grounds on which the
taxpayer relies.".
25
(3) In section 24A(1A) of the Principal Act, after
"sub-section (1)" insert "or (1AA)".
(4) In section 24A(3A) of the Principal Act, after
"assessed" insert "or, in the case of a transmission
easement, the value of that easement was
30
assessed,".
15
551164B.A1-20/4/2004 BILL LA AS SENT 21/4/2004
Land Tax (Amendment) Act 2004
Act No.
Part 2--Amendment of Land Tax Act 1958
s. 10
10. New section 38A inserted
Before section 39 of the Principal Act insert--
"38A. Part IV not to apply to tax assessed,
Victorian Legislation Parliamentary Documents
charged, levied and collected under
Part IIB
5
This Part does not apply in respect of any tax
assessed, charged, levied and collected under
Part IIB.".
11. Dates for payment of tax to be stated in notice of
assessment
10
In section 57 of the Principal Act, for "Land"
substitute "Subject to this Act, land".
12. Tax to be a first charge on land
After section 66(4) of the Principal Act insert--
"(5) This section does not apply in respect of any
15
tax assessed, charged, levied and collected
under Part IIB.".
13. Remedy against lessee mortgagee or occupier if
taxpayer makes default
At the end of section 69 of the Principal Act
20
insert--
"(2) This section does not apply in respect of any
tax assessed, charged, levied and collected
under Part IIB.".
14. Amendment of the Second Schedule
25
(1) After clause 4 of the Second Schedule to the
Principal Act insert--
"4A. Land tax in respect of transmission easements for
period 1 July 2004 to 31 December 2004
30 If the total value of transmission easements held by a
transmission easement holder as assessed under this
Act for the period commencing on 1 July 2004 and
ending on 31 December 2004 is not less than the
amount shown in column 1 of an item in Table DA
16
551164B.A1-20/4/2004 BILL LA AS SENT 21/4/2004
Land Tax (Amendment) Act 2004
Act No.
Part 2--Amendment of Land Tax Act 1958
s. 14
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 in respect of those
easements is the amount determined in accordance
5 with column 3 of that item.
Victorian Legislation Parliamentary Documents
TABLE DA
Item Column 1 Column 2 Column 3
$ $
1. 0 150 000 Nil
2. 150 000 200 000 $75 and 005
cents for each $1
of the value that
exceeds $150 000
3. 200 000 540 000 $100 and 01
cents for each $1
of the value that
exceeds $200 000
4. 540 000 675 000 $440 and 025
cents for each $1
of the value that
exceeds $540 000
5. 675 000 810 000 $777 and 05
cents for each $1
of the value that
exceeds $675 000
6. 810 000 1 080 000 $1452 and 0875
cents for each $1
of the value that
exceeds $810 000
7. 1 080 000 1 620 000 $3815 and 1375
cents for each $1
of the value that
exceeds
$1 080 000
8. 1 620 000 2 700 000 $11 240 and 15
cents for each $1
of the value that
exceeds
$1 620 000
17
551164B.A1-20/4/2004 BILL LA AS SENT 21/4/2004
Land Tax (Amendment) Act 2004
Act No.
Part 2--Amendment of Land Tax Act 1958
s. 14
Item Column 1 Column 2 Column 3
$ $
9. 2 700 000 $27 440 and 25
Victorian Legislation Parliamentary Documents
cents for each $1
of the value that
exceeds
$2 700 000
".
(2) In clause 5 of the Second Schedule to the
Principal Act, for the expression commencing "If"
and ending "column 3 of that item." substitute--
5 "If--
(a) the total unimproved value of land of an owner as
assessed under this Act for 2003 or a subsequent year;
or
(b) the total value of transmission easements held by a
10 transmission easement holder as assessed under this
Act for 2005 or a subsequent year--
is not less than the amount shown in column 1 of an item in
Table E and, if an amount is shown in column 2 of that item,
less than the amount shown in column 2 of that item, the
15 duty of land tax payable on the relevant land or in respect of
those easements is the amount determined in accordance
with column 3 of that item.".
__________________
18
551164B.A1-20/4/2004 BILL LA AS SENT 21/4/2004
Land Tax (Amendment) Act 2004
Act No.
Part 3--Amendment of Valuation of Land Act 1960
s. 15
PART 3--AMENDMENT OF VALUATION OF LAND ACT
1960
15. Definitions
Victorian Legislation Parliamentary Documents
See:
In section 2(1) of the Valuation of Land Act Act No.
1960--
5 6653.
Reprint No. 10
(a) insert the following definitions-- as at
18 March
' "Commissioner" means Commissioner of 2004.
LawToday:
State Revenue under the Taxation www.dms.
Administration Act 1997; dpc.vic.
gov.au
"transmission easement" has the same
10
meaning as in the Land Tax Act 1958;
"transmission easement holder" has the
same meaning as in the Land Tax Act
1958;';
(b) in the definition of "rating authority", in
15
paragraph (f) omit "of State Revenue".
16. New section 5B inserted
After section 5A of the Valuation of Land Act
1960 insert--
"5B. Valuation of transmission easements
20
(1) For the purposes of Part IIB of the Land
Tax Act 1958, the value of a transmission
easement is the amount by which it decreases
the site value of the land encumbered by it,
that is, the amount of the difference
25
between--
(a) the sum which would have been the site
value of the land encumbered by the
transmission easement if that land were
not so encumbered; and
30
(b) the site value of that land as so
encumbered.
19
551164B.A1-20/4/2004 BILL LA AS SENT 21/4/2004
Land Tax (Amendment) Act 2004
Act No.
Part 3--Amendment of Valuation of Land Act 1960
s. 16
(2) At the request of the Commissioner, the
valuer-general must, to enable the
Commissioner to assess land tax under
Part IIB of the Land Tax Act 1958, make
Victorian Legislation Parliamentary Documents
and give to the Commissioner--
5
(a) on or before 1 July 2004, a valuation of
transmission easements that determines
the value of transmission easements as
at 1 January 2002; and
(b) on or before 31 December 2004, a
10
valuation of transmission easements
that determines the value of
transmission easements as at 1 January
2004; and
(c) thereafter, on or before 31 December in
15
the second year immediately following
the last valuation, a valuation of
transmission easements that determines
the value of transmission easements as
at the date fixed by the Minister under
20
section 7(2) in that year.
(3) This section does not apply to a transmission
easement--
(a) held by a transmission easement holder
exempted by Order in Council under
25
section 13P(1)(a) of the Land Tax Act
1958; or
(b) exempted by Order in Council under
section 13P(1)(b) of the Land Tax Act
1958.".
30
20
551164B.A1-20/4/2004 BILL LA AS SENT 21/4/2004
Land Tax (Amendment) Act 2004
Act No.
Part 3--Amendment of Valuation of Land Act 1960
s. 17
17. Definitions in Division 1 of Part III
In section 14 of the Valuation of Land Act
1960--
Victorian Legislation Parliamentary Documents
(a) the definition of "Commissioner" is
repealed;
5
(b) after the definition of "land" insert--
' "relevant taxpayer" means a transmission
easement holder within the meaning of
the Land Tax Act 1958;'.
18. Rating authority must give notice of valuation
10
After section 15(3) of the Valuation of Land Act
1960 insert--
"(4) This section does not apply in respect of a
valuation of a transmission easement made
under section 5B.".
15
19. New section 15A inserted
After section 15 of the Valuation of Land Act
1960 insert--
"15A. Commissioner must give notice of
valuation of transmission easements
20
The Commissioner must, in respect of any
tax the Commissioner intends to assess,
charge, levy and collect under Part IIB of the
Land Tax Act 1958, give a transmission
easement holder that is liable for the
25
payment of that tax a notice of valuation
that--
(a) shows the aggregate value assessed in
respect of the transmission easements;
and
30
(b) states the date as at which the aggregate
value of the transmission easements
was assessed.".
21
551164B.A1-20/4/2004 BILL LA AS SENT 21/4/2004
Land Tax (Amendment) Act 2004
Act No.
Part 3--Amendment of Valuation of Land Act 1960
s. 20
20. Who may object?
After section 16(6) of the Valuation of Land Act
1960 insert--
Victorian Legislation Parliamentary Documents
"(7) This section does not apply in respect of a
valuation of a transmission easement made
5
under section 5B.".
21. New section 17A inserted
After section 17 of the Valuation of Land Act
1960 insert--
"17A. Objections relating to valuation of
10
transmission easements under section 5B
(1) A relevant taxpayer aggrieved by an
assessment of the value of a transmission
easement for the Commissioner may lodge
a written objection with the Commissioner
15
on any one of the grounds set out in sub-
section (2).
(2) The grounds for an objection are--
(a) that the value assigned to the
transmission easement is too high or
20
too low;
(b) that the person named in the notice of
assessment or valuation is not liable to
be so named.".
22
551164B.A1-20/4/2004 BILL LA AS SENT 21/4/2004
Land Tax (Amendment) Act 2004
Act No.
Endnotes
ENDNOTES
Victorian Legislation Parliamentary Documents
By Authority. Government Printer for the State of Victoria.
23
551164B.A1-20/4/2004 BILL LA AS SENT 21/4/2004
[Index] [Search] [Download] [Related Items] [Help]