Western Australian Consolidated Acts Western Australian Consolidated Acts (1) The owner of
private residential property may apply to the Commissioner in the approved
form for a rebate under this section.
(2) The owner of
private residential property is entitled to a rebate of the land tax payable
for an assessment year on the aggregated taxable value of all the
applicant’s land if —
(a) the
private residential property is in an area of the State prescribed as an inner
city area, and is also in an area that is the subject of a local planning
scheme, or a redevelopment scheme in force under the East Perth
Redevelopment Act 1991 , where the land is not zoned for use solely for
residential purposes;
(b) the
construction of the private residence that forms part of the private
residential property was completed before or during the assessment year;
(c) the
private residence was occupied, or fit to be occupied and intended by the
owner to be occupied, as a place of residence for one or more individuals,
during the assessment year or during the part of the assessment year remaining
after the construction is completed, as the case requires;
(d) the
private residential property is not exempt for the assessment year under
another provision of this Division; and
(e) the
aggregated taxable value of all the applicant’s taxable land is greater
than it would have been if the private residential property had been in an
area zoned solely for residential purposes.
(3) The amount of the
rebate is calculated using the following formula —
where —
LT is greater than RE;
R is the amount of the
rebate;
LT (short for land
tax) is the amount of land tax levied on the aggregated taxable value of all
of the taxable land owned by the applicant;
RE (short for
residential equivalent) is the amount of the land tax that would be payable on
the sum of —
(a) the
aggregated taxable value of all of the taxable land owned by the applicant
other than the private residential property referred to in
subsection (2)(a); and
(b) the
taxable value of that private residential property determined as if the
property were zoned under a scheme referred to in subsection (2)(a) for
use solely for residential purposes.
(4) The Commissioner
may, by notice served on an applicant, relieve the applicant from the
obligation to apply for a rebate for each assessment year and may, by further
notice, reimpose that obligation upon the applicant.
(5) If the private
residential property ceases to comply with subsection (1)(a), (b), (c) or
(d), or the area of the property is reduced, the owner must notify the
Commissioner to that effect before the beginning of the next assessment year,
or within 3 months of the day on which compliance stopped or the property
was reduced in area, whichever is later.
Penalty: $5 000.
(6) The Commissioner
is to make any reassessment necessary to give effect to this section.
[(7)
deleted]
[Section 28 amended by No. 38 of 2005
s. 15; No. 19 of 2009 s. 9.]