Land Tax Amendment Act 1985

This commentary item was published in Public Information Bulletin Volume 138, March 1985

More information about Public Information Bulletins.

This Act was assented to on 29 March 1985.

Section 1. Short Title

This Act has the above title and is to be read together with and deemed part of the Land Tax Act 1976.

Section 2. Application

Provides that this Act applies with respect to the assessments of land tax in respect of land held at noon on 31 March 1985.

Section 3. Objections to Assessments

This section amends section 45(1) of the principal Act.

Section 45 has always provided that the provisions of sections 30 to 35 of the Income Tax Act 1976 apply to land tax, i.e., objections to assessments of land tax are subject to the provisions of sections 30-35 of the Income Tax Act and those objections are to be treated in the same manner as an objection to an assessment of income tax is treated.

The amendment made to section 45(1) provides that the new provisions relating to the collection and payment of income tax in dispute, as introduced in sections 7, 8 and 40 of the Income Tax Amendment (No. 2) Act 1985 and contained in sections 34, 34A, and 398 of the Income Tax Act 1976, will also apply to land tax.

Those new provisions are set out fully in PIB 136 Part 2, Appendix A, Part II.

Paragraph (a)

Paragraph (a) of this section amends paragraph (a) of section 45 and provides that every reference in sections 30 to 34A of the Income Tax Act to income tax or to tax are to be treated as if those references were references to land tax.

Paragraph (b)

Paragraph (b) of this section amends paragraph (b) of section 45 and provides that every reference in sections 34, 34A and 35 of the Income Tax Act to income are to be treated as if those references were references to land.

Section 4. Additional tax to be charged if default made in payment of tax

The section repeals and substitutes section 47 of the principal Act.

Section 47 provides for additional tax to be charged on default in payment of land tax.

The section provides that the provisions of section 398 of the Income Tax Act shall with the exceptions of subsections (6) and (7) of section 398 apply to land tax.

The new provisions of section 398 provide for:

• the inclusion of the new "incremental" additional tax provisions;
• the inclusion of an "in lieu" additional tax calculated at a daily interest rate in respect of an amount of deferrable tax.

The facility for the automatic 50 percent remission of additional tax where payment of unpaid land tax is made within three months after the due date has been removed.

Full details of the new provisions of section 398 of the Income Tax Act refer to PIB 136 Part 2, Appendix A.