The exemptions apply for the 1991 land tax year. Previously, these institutions were only exempt if operated by an exempt organisation, such as a religious society or a charitable institution. A retirement village must meet the definition contained in the section 10R of the Act , which is based on that contained in the Retirement Villages Act 1989 and the Retirement Villages Code of Practice, 1989. The purpose of this Revenue Ruling is to explain how owners should calculate their liability in cases where a partial exemption is applicable.
Owners are responsible for determining the proportion of the land so used in the first instance.
Owners should indicate briefly in their return or an accompanying letter, the basis on which the calculation was made. Owners may calculate the partial exemption based on the area actually in use. However, where planning approval has been obtained for the development of the unused portion, a calculation based on the number of units of accommodation in the partial development compared with the number of units once the land is fully utilised will be accepted. If owners are unsure of the proportion of land for which exemption may be claimed, a be made to the Office of State Revenue, setting out all relevant details.