Victorian Current Acts

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LAND TAX ACT 2005


TABLE OF PROVISIONS

   PART 1--PRELIMINARY

   1.      Purposes  
   2.      Commencement  
   3.      Definitions  
   3A.     Absentee controlling interest  
   3B.     Exemptions from holding absentee controlling interests  
   3C.     Delegation of exemption power  
   4.      Transmission easement holders  
   5.      Taxation Administration Act 1997  
   6.      Act binds the Crown  

   PART 2--IMPOSITION OF LAND TAX

   7.      General imposition of land tax  
   8.      Who is liable for land tax?  
   9.      When must land tax be paid?  
   10.     Who is the owner of land?  
   11.     Life tenants  
   12.     Home units  
   13.     Person in possession of land deemed owner despite disposition of it  
   14.     Purchaser of land on credit or deferred payment  
   15.     Purchaser of land under contract of sale  
   16.     Vendors of land  
   16A.    Transfer of land for no consideration  
   17.     Mortgagees in possession  
   18.     Holders of beneficial interests  
   18A.    Managers of title-based time-sharing schemes  
   19.     Taxable value of land  
   21.     Use of valuations  
   21A.    Objection to land tax valuation does not affect previous assessments  
   22.     Taxable value of parts of land not separately valued  
   23.     Taxable value of home units not valued separately  
   24.     Imposition of land tax on transmission easements  
   25.     Who is liable for land tax on transmission easements?  
   26.     When must land tax be paid?  
   27.     What is the taxable value of a transmission easement?  
   28.     Agreements relating to the payment of tax  
   29.     Imposition of special land tax  
   30.     What land is subject to special land tax?  
   31.     Who is liable for special land tax?  
   32.     When does a liability for special land tax arise?  
   33.     When must special land tax be paid?  
   34.     Deferral of special land tax in certain circumstances  

   PART 3--ASSESSMENT OF LAND TAX

   35.     What is the rate of land tax?  
   36.     Land tax assessed on aggregated basis  
   37.     Certain taxable land assessed separately  
   38.     Assessment of joint owners of land  
   39.     Joint assessments in the case of principal place of residence land  
   40.     Assessment of joint occupiers of land  
   41.     Assessment of joint transmission easement holders  
   42.     Assessment of owner of land on which there are home units  
   43.     Mortgagees in possession of land  
   45.     Certain long-term lessees of private land  
   46.     Land tax on parts of land  
   46AA.   Title-based time-sharing schemes  
   46A.    General land tax surcharge for trusts  
   46B.    Land tax for fixed trust if beneficial interests notified to Commissioner  
   46C.    Land tax for unit trust scheme if unitholdings notified to Commissioner  
   46D.    Land tax for beneficiary/trustees  
   46E.    Land tax for excluded trusts and administration trusts  
   46F.    Nomination of beneficiary of pre-2006 discretionary trust for land tax purposes  
   46G.    Land tax for discretionary trust with nominated beneficiary  
   46H.    Nomination of PPR beneficiary of unit trust scheme or discretionary trust for land tax purposes  
   46I.    Land tax for PPR land if nominated PPR beneficiary  
   46IA.   Land tax surcharge for absentee trusts  
   46IB.   Land tax for absentee fixed trust if beneficial interests notified to Commissioner  
   46IC.   Land tax for absentee unit trust scheme if unitholdings notified to Commissioner  
   46ID.   Land tax for beneficiary/trustees  
   46IE.   Land tax for absentee discretionary trust with nominated beneficiary  
   46IF.   Land tax for PPR land if nominated PPR beneficiary  
   46J.    Trustee's right of reimbursement  
   46K.    Requirements for trustees to notify Commissioner  
   46L.    Land held on implied or constructive trust  
   46M.    Trustee's right to reimbursement under implied trust or constructive trust  
   47.     What are related corporations?  
   48.     What is a controlling interest in a corporation?  
   49.     Further provisions for determining whether corporations are related corporations  
   50.     Grouping of related corporations  
   50A.    Land tax surcharge for related absentee corporations  
   51.     Reassessments  

   PART 4--EXEMPTIONS AND CONCESSIONS

   52.     Definitions  
   53.     What is a principal place of residence?  
   53A.    What is a right to reside?  
   54.     Principal place of residence exemption  
   55.     Deferral of tax on certain residential land for 6 months  
   55A.    Deferral of tax for residential land to be used during tax year  
   56.     Absence from principal place of residence  
   57.     Exemption continues on death of resident  
   58.     Exemption continues if land becomes unfit for occupation  
   59.     Purchase of new principal residence  
   60.     Sale of old principal residence  
   61.     Unoccupied land subsequently used as principal residence  
   62.     Partial exemption if land used for business activities  
   62A.    Partial exemption if separate residence is leased for residential purposes  
   63.     Partial exemption or refund for trustees  
   64.     Definitions  
   65.     Exemption of primary production land outside greater Melbourne  
   66.     Exemption of primary production land in greater Melbourne but not in an urban zone  
   67.     Exemption of primary production land in an urban zone in greater Melbourne  
   68.     Exemption of land being prepared for use for primary production  
   69.     Application for exemption under section 66, 67 or 68  
   70.     Parcels of land  
   71.     Land leased for sporting, recreational or cultural activities by members of the public  
   72.     Sporting, recreational or cultural land owned by certain non‑profit organisations  
   73.     Concessional tax rate for club land  
   74.     Charitable institutions and purposes  
   74A.    Health centres and services  
   75.     Rooming houses  
   76.     Residential care facilities and supported residential services  
   76A.    Residential services for people with disabilities  
   77.     Caravan parks  
   78.     Retirement villages  
   78A.    Exemption of land under construction for certain exempt uses  
   79.     Crown land  
   80.     Public statutory authorities  
   81.     Municipal and public land  
   82.     Application of Division 6  
   83.     Armed services personnel  
   84.     Friendly societies  
   85.     Land used for agricultural shows or farm field machinery days  
   86.     Mines  
   87.     Governor in Council may exempt  
   88.     Dispositions of transmission easements  

   PART 5--RELIEF FROM OR POSTPONEMENT OF LAND TAX

   89.     Definition  
   90.     Arrangements for payment of tax  
   91.     Taxpayer may apply for relief  
   92.     Relief granted by the Commissioner  
   93.     Relief granted by the Board  
   94.     Reconsideration of postponed land tax  
   95.     Establishment and procedure  

   PART 6--SECURITY, RECOVERY AND ENFORCEMENT

   96.     Land tax is a first charge on land  
   97.     Registration of charge  
   98.     Recovery from lessee, mortgagee or occupier  
   99.     Prohibition on passing on land tax  
   100.    Prohibition on passing on land tax on transmission easements  
   101.    What is a tax avoidance scheme?  
   102.    Anti-avoidance provision  

   PART 7--GENERAL

   103.    Notice of acquisition of land  
   104.    Notice of acquisition of transmission easement  
   104A.   Notice of errors in notice of assessment of land tax  
   104B.   Notification of absentee owner status  
   105.    Land tax certificates  
   106.    Stating case to Supreme Court  
   107.    Regulations  

   PART 9--FURTHER AMENDMENTS, REPEALS AND TRANSITIONAL PROVISIONS

   116.    Repeal of Land Tax Act 1958  
   118.    Transitional provisions  
           SCHEDULE 1
           SCHEDULE 2
           SCHEDULE 3
           ENDNOTES


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