LAND TAX ACT 2002 - SECT 5
LAND TAX ACT 2002 - SECT 5
5 . Imposition
of land tax
Land tax is imposed at
the rates shown in the table to this section for the relevant financial year
according to the value of the land referred to in the table.
Table 1: Land tax rates for 2002/03
|
Unimproved value
of the land
|
|
|---|
|
Exceeding
($)
|
Not exceeding
($)
|
Rate of land tax
|
|---|
|
0
|
50 000
|
Nil
|
|
50 000
|
100 000
|
$75.00 + 0.15 cent for each $1 in excess of $50 000
|
|
100 000
|
190 000
|
$150.00 + 0.25 cent for each $1 in excess of $100 000
|
|
190 000
|
325 000
|
$375.00 + 0.45 cent for each $1 in excess of $190 000
|
|
325 000
|
550 000
|
$982.50 + 0.80 cent for each $1 in excess of $325 000
|
|
550 000
|
850 000
|
$2 782.50 + 1.20 cents for each $1 in excess of $550 000
|
|
850 000
|
1 250 000
|
$6 382.50 + 1.60 cents for each $1 in excess of $850 000
|
|
1 250 000
|
2 000 000
|
$12 782.50 + 2.00 cents for each $1 in excess of $1 250 000
|
|
2 000 000
|
5 000 000
|
$27 782.50 + 2.30 cents for each $1 in excess of $2 000 000
|
|
5 000 000
|
|
$96 782.50 + 2.50 cents for each $1 in excess of $5 000 000
|
Table 2: Land tax rates for 2003/04
|
Unimproved value
of the land
|
|
|
Exceeding
($)
|
Not exceeding
($)
|
Rate of land tax
|
|
0
|
50 000
|
Nil
|
|
50 000
|
190 000
|
$75.00 + 0.15 cent for each $1 in excess of $50 000
|
|
190 000
|
550 000
|
$285.00 + 0.45 cent for each $1 in excess of $190 000
|
|
550 000
|
2 000 000
|
$1 905.00 + 1.76 cents for each $1 in excess of $550 000
|
|
2 000 000
|
5 000 000
|
$27 425.00 + 2.30 cents for each $1 in excess of $2 000 000
|
|
5 000 000
|
|
$96 425.00 + 2.50 cents for each $1 in excess of $5 000 000
|
Table 3: Land tax rates for 2004/05
|
Unimproved value
of the land
|
|
|
Exceeding ($)
|
Not exceeding ($)
|
Rate of land tax
|
|
0
|
100 000
|
Nil
|
|
100 000
|
220 000
|
$150.00 + 0.15 cent for each $1 in excess of $100 000
|
|
220 000
|
570 000
|
$330.00 + 0.45 cent for each $1 in excess of $220 000
|
|
570 000
|
2 000 000
|
$1 905.00 + 1.76 cents for each $1 in excess of $570 000
|
|
2 000 000
|
5 000 000
|
$27 073.00 + 2.30 cents for each $1 in excess of $2 000 000
|
|
5 000 000
|
|
$96 073.00 + 2.50 cents for each $1 in excess of $5 000 000
|
Table 4: Land tax rates for 2005/06
|
Unimproved value
of the land
|
|
|
|
Exceeding ($)
|
Not exceeding ($)
|
Rate of land tax
|
|
0
|
130 000
|
Nil
|
|
130 000
|
290 000
|
0.15 cent for each $1 in excess of $130 000
|
|
290 000
|
750 000
|
$240.00 + 0.45 cent for each $1 in excess of $290 000
|
|
750 000
|
2 000 000
|
$2 310.00 + 1.62 cents for each $1 in excess of $750 000
|
|
2 000 000
|
5 000 000
|
$22 560.00 + 2.30 cents for each $1 in excess of $2 000 000
|
|
5 000 000
|
|
$91 560.00 + 2.50 cents for each $1 in excess of $5 000 000
|
Table 5: Land tax rates for 2006/07
|
Unimproved value
of the land
|
|
|
|---|
|
Exceeding ($)
|
Not exceeding ($)
|
Rate of land tax
|
|
0
|
150 000
|
Nil
|
|
150 000
|
390 000
|
0.15 cent for each $1 in excess of $150 000
|
|
390 000
|
875 000
|
$360.00 + 0.45 cent for each $1 in excess of $390 000
|
|
875 000
|
2 000 000
|
$2 542.50 + 1.62 cents for each $1 in excess of $875 000
|
|
2 000 000
|
5 000 000
|
$20 767.50 + 2.30 cents for each $1 in excess of $2 000 000
|
|
5 000 000
|
|
$89 767.50 + 2.50 cents for each $1 in excess of $5 000 000
|
Table 6: Land tax rates for 2007/08
|
Unimproved value
of the land
|
|
|
|---|
|
Exceeding ($)
|
Not exceeding ($)
|
Rate of land tax
|
|
0
|
250 000
|
Nil
|
|
250 000
|
875 000
|
0.15 cent for each $1 in excess of $250 000
|
|
875 000
|
2 000 000
|
$937.50 + 0.75 cent for each $1 in excess of $875 000
|
|
2 000 000
|
5 000 000
|
$9 375.00 + 1.30 cents for each $1 in excess of $2 000 000
|
|
5 000 000
|
10 000 000
|
$48 375.00 + 1.55 cents for each $1 in excess of $5 000 000
|
|
10 000 000
|
|
$125 875.00 + 2.30 cents for each $1 in excess of $10 000 000
|
Table 7: Land tax rates for 2008/09
|
Unimproved value
of the land
|
Rate of land tax
|
|---|
|
Exceeding
($)
|
Not exceeding
($)
|
|
0
|
300 000
|
Nil
|
|
300 000
|
1 000 000
|
0.09 cent for each $1 in excess of $300 000
|
|
1 000 000
|
2 200 000
|
$630 + 0.47 cent for each
$1 in excess of $1 000 000
|
|
2 200 000
|
5 500 000
|
$6 270 + 1.22 cents for each $1 in excess of $2 200 000
|
|
5 500 000
|
11 000 000
|
$46 530 + 1.46 cents for each $1 in excess of $5 500 000
|
|
11 000 000
|
|
$126 830 + 2.16 cents for each $1 in excess of $11 000 000
|
Table 8: Land tax rates for 2009/10, 2010/11, 2011/12 and 2012/13
|
Taxable value of the land
|
Rate of land tax
|
|---|
|
Exceeding ($)
|
Not exceeding ($)
|
|
0
|
300 000
|
Nil
|
|
300 000
|
1 000 000
|
0.09 cent for each $1 in excess of $300 000
|
|
1 000 000
|
2 200 000
|
$630 + 0.47 cent for each $1 in excess of $1 000 000
|
|
2 200 000
|
5 500 000
|
$6 270 + 1.22 cents for each $1 in excess of $2 200 000
|
|
5 500 000
|
11 000 000
|
$46 530 + 1.46 cents for each $1 in excess of $5 500 000
|
|
11 000 000
|
|
$126 830 + 2.16 cents for each $1 in excess of $11 000 000
|
Table 9: Land tax rates for 2013/14
|
Taxable value of the land
|
Rate of land tax
|
|---|
|
Exceeding ($)
|
Not exceeding ($)
|
|
0
|
300 000
|
Nil
|
|
300 000
|
1 0 00 000
|
0.10 cent for each $1 in excess of $300 000
|
|
1 000 000
|
2 200 000
|
$700 + 0.53 cent for each $1 in excess of $1 000 000
|
|
2 200 000
|
5 500 000
|
$7 060 + 1.37 cents for each $1 in excess of $2 200 000
|
|
5 500 000
|
11 000 000
|
$52 270 + 1.64 cents for each $1 in excess of $5 500 000
|
|
11 000 000
|
|
$142 470 + 2.43 cents for each $1 in excess of $11 000 000
|
Table 10: Land tax rates for 2014/15
|
Taxable value of the land
|
Rate of land tax
|
|---|
|
Exceeding ($)
|
Not exceeding ($)
|
|
0
|
300 000
|
Nil
|
|
300 000
|
1 000 000
|
0.11 cent for each $1 in excess of $300 000
|
|
1 000 000
|
2 200 000
|
$770 + 0.58 cent for each $1 in excess of $1 000 000
|
|
2 200 000
|
5 500 000
|
$7 730 + 1.51 cents for each $1 in excess of $2 200 000
|
|
5 500 000
|
11 000 000
|
$57 560 + 1.80 cents for each $1 in excess of $5 500 000
|
|
11 000 000
|
|
$156 560 + 2.67 cents for each $1 in excess of $11 000 000
|
Table 11: Land tax rates for 2015/16 and subsequent financial years
|
Taxable value of the land
|
Rate of land tax
|
|---|
|
Exceeding ($)
|
Not exceeding ($)
|
|
0
|
300 000
|
Nil
|
|
300 000
|
420 000
|
A flat rate of $300
|
|
420 000
|
1 000 000
|
$300 + 0.25 cent for each $1 in excess of $420 000
|
|
1 000 000
|
1 800 000
|
$1 750 + 0.90 cent for each $1 in excess of $1 000 000
|
|
1 800 000
|
5 000 000
|
$8 950 + 1.80 cents for each $1 in excess of $1 800 000
|
|
5 000 000
|
11 000 000
|
$66 550 + 2.00 cents for each $1 in excess of $5 000 000
|
|
11 000 000
|
|
$186 550 + 2.67 cents for each $1 in excess of $11 000 000
|
[Section 5 amended: No. 41 of 2003 s. 4; No. 11 of
2004 s. 4; No. 83 of 2004 s. 4; No. 10 of 2005 s. 4; No. 31 of 2006 s. 18; No.
12 of 2007 s. 4; No. 30 of 2008 s. 10; No. 3 of 2009 s. 4; No. 19 of 2009 s.
15; No. 15 of 2013 s. 4; No. 15 of 2014 s. 7; No. 24 of 2015 s. 4.]
