(b) the third anniversary of the death of the deceased person or the further period approved by the Commissioner under subsection (3); S. 3(1) def. of applicable general valuation repealed by No. 84/2006 s. 8. * * * * * approved means approved by the Commissioner; S. 3(1) def. of beneficiary inserted by No. 85/2005 s. 22(1)(a). beneficiary of a discretionary trust, means a person, or a member of a class of persons, in whom, by the terms of the trust, the whole or any part of the trust property may be vested— (a) in the event of the exercise of a power or discretion in favour of the person (whether or not that power is presently exercisable); or s. 3 (b) in the event that a discretion conferred under the trust is not exercised; S. 3(1) def. of child maintenance land inserted by No. 85/2005 s. 22(1)(a). child maintenance land means land held on trust that was transferred to the trustee for the benefit of a beneficiary as the result of a family breakdown within the meaning of section 102AGA of the Income Tax Assessment Act 1936 of the Commonwealth; S. 3(1) def. of Act inserted by No. 85/2005 s. 22(1)(a). Commonwealth Superannuation Act means the Superannuation Industry (Supervision) Act 1993 of the Commonwealth;
S. 3(1) def. of domestic partner substituted by No. 12/2008 s. 73(1)(Sch. 1 item 34.1), amended by No. 4/2009 s. 37(Sch. 1 item 16.1). domestic partner of a person means— (a) a person who is in a registered domestic relationship with the person; or (b) a person to whom the person is not married but with whom the person is living as a couple on a genuine domestic basis (irrespective of gender); S. 3(1) def. of excluded trust inserted by No. 85/2005 s. 22(1)(a), amended by No. 68/2007 s. 8(1). excluded trust means— (a) a charitable trust; (b) a concessional trust; (c) a public unit trust scheme; (d) a wholesale unit trust scheme; (e) a trust the sole beneficiary or beneficiaries of which is or are— (i) a club referred to in section 73; or (ii) the members of such a club; * * * * * s. 3 (g) a trust, for any tax year in relation to which it is a superannuation trust; exempt land means land that is declared by or under this Act to be exempt land; exempt transmission easement means a transmission easement that is exempt from land tax under section 87(1)(b); exempt transmission easement holder means a transmission easement holder who is exempt from land tax on the easement under section 87(1)(a); S. 3(1) def. of fixed trust inserted by No. 85/2005 s. 22(1)(a). fixed trust means a trust that is not an excluded trust, a discretionary trust or a trust to which a unit trust scheme relates;
S. 3(1) def. of trust inserted by No. 85/2005 s. 22(1)(a), substituted by No. 68/2007 s. 8(3), amended by No. 83/2009 s. 4. trust— (a) includes a trust under which the assets of a deceased person are held by a personal representative; and (b) does not include an implied or constructive trust, except where expressly provided by this Act; S. 3(1) def. of trustee amended by No. 85/2005 s. 22(1)(b). trustee, except in Division 1 of Part 4, includes trustee, executor, administrator, guardian, liquidator and any person having or taking upon themselves the possession, administration, or control of land, income, or other property of any description affected by any trust, or having the possession, control, or management of land of a person under any legal or other disability; S. 3(1) def. of unit inserted by No. 85/2005 s. 22(1)(a). unit in a unit trust scheme, means— (a) a right or interest (whether described as a unit or a sub-unit or otherwise) of a beneficiary under the scheme; or (b) a right to any such right or interest— s. 3 that entitles the beneficiary to participate proportionately with other unitholders in a distribution of the property of the trust on its vesting; S. 3(1) def. of unit trust scheme inserted by No. 85/2005 s. 22(1)(a). unit trust scheme means an arrangement made for the purpose, or having the effect, of providing facilities for participation by a person, as a beneficiary under a trust, in any profit or income arising from the acquisition, holding, management or disposal of property under the trust, but does not include an excluded trust; Victorian Minister means a Minister of the Crown in right of ;
the part bears to the total taxable value of the whole land. Pt 3 Div. 2A (Heading and ss 46A–46K) inserted by No. 85/2005 s. 27. Division 2A—Land held on trust S. 46A inserted by No. 85/2005 s. 27. 46A tax surcharge for trusts (1) A person who is the owner of land as trustee of a trust is liable for land tax on the land at the applicable rate set out in Part 3 of Schedule 1. (2) The trustee is to be assessed for land tax on the whole of the land subject to the trust as if the land were the only land owned by the trustee. (3) This section does not apply to— S. 46A(3)(a) substituted by No. 83/2009 s. 9(1)(a). (a) land subject to a unit trust scheme if an appointment of a nominated PPR beneficiary for the scheme is in force and the land is— (i) used and occupied as the principal place of residence of the nominated PPR beneficiary; and (ii) not used to carry on a substantial business activity; or (b) land subject to a discretionary trust if— (i) an appointment of a nominated beneficiary for the trust is in force; or S. 46A(3)(b)(ii) substituted by No. 83/2009 s. 9(1)(b). (ii) an appointment of a nominated PPR beneficiary for the trust is in force and the land is— (A) used and occupied as the principal place of residence of the nominated PPR beneficiary; and s. 46A
(7) Subsection (4)(a) does not apply to a beneficiary who holds a beneficial interest as trustee of another trust. Note Section 46D(1)(a) deems such a person to be the owner of land. S. 46C inserted by No. 85/2005 s. 27. 46C Land tax for unit trust scheme if unitholdings notified to Commissioner (1) A trustee of a unit trust scheme to which land is subject may lodge with the Commissioner a written notice of the unitholdings in the scheme. (2) A notice must— (a) be in the form, and contain the information, determined by the Commissioner; and s. 46C (b) be lodged with the Commissioner on or before— (i) if any of the land subject to the scheme is pre-2006 land—the later of 30 June 2006 or 3 months after the day on which a liability first arises for land tax on the land; or (ii) if the only land subject to the scheme is post-2006 land—in the year in which the land first became subject to the scheme. (3) A notice takes effect— (a) for the 2006 tax year if it is lodged on or before 30 June 2006 in respect of pre-2006 land; or S. 46C(3)(b) substituted by No. 68/2007 s. 12. (b) in any other case, for the tax year in respect of which the notice is lodged—
denominational hospital means a hospital listed in Schedule 2 to the Health Services Act 1988; multi-purpose service means— (a) a body referred to in section 115V(2) of the Health Services Act 1988; or (b) a body declared under Part 4A of that Act to be a multi purpose service; public health service means a public health service listed in Schedule 5 to the Health Services Act 1988; S. 74A(3) def. of public hospital amended by No. 79/2008 s. 18(2)(b). public hospital means a hospital listed in Schedule 1 to the Health Services Act 1988; S. 74A(3) def. of registered community health centre inserted by No. 79/2008 s. 18(2)(c). registered community health centre means a community health centre registered under Division 6 of Part 3 of the Health Services Act 1988. Division 5—Accommodation 75 Rooming houses s. 75 (1) Land is exempt land if the Commissioner determines that the land is used and occupied— S.75(1)(a) amended by No. 46/2008 s. 279. (a) as a rooming house (within the meaning of the Residential Tenancies Act 1997) that is registered under Part 6 of the Public Health and Wellbeing Act 2008; and (b) primarily for low cost accommodation by people with low incomes, in accordance with guidelines issued by the Commissioner for the purposes of this section.
Sch. 1 cl. 1.2 (Heading) amended by No. 22/2007 s. 7(1)(b). Sch. 1 cl. 1.2 substituted by No. 38/2006 s. 8(1), amended by No. 22/2007 s. 7(1)(c). 1.2 Land tax for 2007 The rate of land tax for 2007 is set out in Table 1.2. Sch. 1 Sch. 1 cl. 1.2 (Table 1.2) amended by No. 22/2007 s. 7(1)(d). TABLE 1.2 Item Column 1 Taxable value not less than Column 2 Taxable value less than Column 3 Rate of land tax $ $ 1. 0 200 000 Nil 2. 200 000 540 000 $200 and 02% of the taxable value that exceeds $200 000 3. 540 000 900 000 $880 and 05% of the taxable value that exceeds $540 000 4. 900 000 1 190 000 $2680 and 08% of the taxable value that exceeds $900 000 5. 1 190 000 1 620 000 $5000 and 12% of the taxable value that exceeds $1 190 000 6. 1 620 000 2 700 000 $10 160 and 18% of the taxable value that exceeds $1 620 000 7. 2 700 000 $29 600 and 3% of the taxable value that exceeds $2 700 000
The Land Tax Act 2005 was assented to on 29 November 2005 and came into operation on 1 January 2006: section 2. Table of Amendments Endnotes This Version incorporates amendments made to the Land Tax Act 2005 by Acts and subordinate instruments. ––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Duties and Land Tax Acts (Amendment) Act 2005, No. 85/2005 Assent Date: 29.11.05 Commencement Date: Ss 22–31 on 1.1.06: s. 2(3) : This information relates only to the provision/s amending the Land Tax Act 2005 Disability Act 2006, No. 23/2006 Assent Date: 16.5.06 Commencement Date: S. 245 on 1.7.07: s. 2(3) : This information relates only to the provision/s amending the Land Tax Act 2005 State Taxation (Reductions and Concessions) Act 2006, No. 38/2006 Assent Date: 20.6.06 Commencement Date: Ss 8, 9 on 21.6.06: s. 2 : This information relates only to the provision/s amending the Land Tax Act 2005 Mineral Resources Development (Sustainable Development) Act 2006, No. 63/2006 Assent Date: 29.8.06 Commencement Date: S. 61(Sch. item 20) on 30.8.06: s. 2(1) : This information relates only to the provision/s amending the Land Tax Act 2005 State Taxation Legislation (Miscellaneous Amendments) Act 2006, No. 84/2006 Assent Date: 10.10.06 Commencement Date: Ss 12, 13 on 1.7.06: s. 2(3); ss 8–11 on 11.10.06: s. 2(1) : This information relates only to the provision/s amending the Land Tax Act 2005 Water (Governance) Act 2006, No. 85/2006 Assent Date: 17.10.06 Commencement Date: S. 173(Sch. 1 item 3) on 1.7.07: s. 2(3) : This information relates only to the provision/s amending the Land Tax Act 2005 State Taxation and Gambling Legislation Amendment (Budget Measures) Act 2007, No. 22/2007
Assent Date: 10.2.09 Commencement Date: S. 37(Sch. 1 item 16) on 1.12.09: s. 2(2) : This information relates only to the provision/s amending the Land Tax Act 2005 State Taxation Acts Amendment Act 2009, No. 37/2009 Assent Date: 30.6.09 Commencement Date: S. 14 on 1.1.06: s. 2(3) : This information relates only to the provision/s amending the Land Tax Act 2005 State Taxation Acts Further Amendment Act 2009, No. 83/2009 Endnotes Assent Date: 8.12.09 Commencement Date: Ss 4, 5 on 1.1.06: s. 2(3); ss 6–14 on 9.12.09: s. 2(4) : This information relates only to the provision/s amending the Land Tax Act 2005 Valuation of Land Amendment Act 2009, No. 94/2009 Assent Date: 15.12.09 Commencement Date: S. 33 on 1.5.10: s. 2(2) : This information relates only to the provision/s amending the Land Tax Act 2005 State Taxation Acts Amendment Act 2010, No. 36/2010 Assent Date: 15.6.10 Commencement Date: S. 12 on 1.1.11: s. 2(3) : This information relates only to the provision/s amending the Land Tax Act 2005 ––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Explanatory Details Endnotes No entries at date of publication.