Land Tax Amendment Act, Supplement 1, 1983

This commentary item was published in Public Information Bulletin Volume 126, September 1984

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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 1984.

Section 3 - Exemption of certain classes of land

This section makes two amendments to section 27 of the Land Tax Act 1976.

1. The first amendment repeals paragraph (k) of section 27, which provided an exemption from land tax for independent superannuation funds.
2. The second amendment inserts into section 27 a new paragraph (p). This new paragraph exempts from land tax the land on which the principal place of abode of the owner stands.

The exempt land is that land which is owned by the taxpayer and which is used as the site of the taxpayer's residence. The residence includes a house, flat, townhouse, home unit or a similar type dwelling which is occupied as the taxpayer's principal place of abode.

The maximum area of land which will qualify for the exemption is 4,500 square metres. However, this limitation will be extended in cases where having regard to the size and character of the residence and the nature of the land on which the residence stands, the area required is greater than 4,500 square metres.

The reference in paragraph (ii) of the proviso to "the nature of the land" extends the exemption to the situation where the land includes a "right of way" or an access to a beach front or any similar situation.

Section 3 contains consequential amendments to the repealing of paragraph (k) of section 27. It simply repeals the definition in section 2 of the expression "superannuation fund" of which the only reference in the Land Tax Act 1976 was in section 27(k).