land includes— (a) all land and tenements; (b) all interests in land; S. 3(1) def. of listed trust inserted by No. 85/2005 s. 22(1)(a). listed trust has the same meaning as in the Duties Act 2000; mortgage means— (a) a security by way of mortgage or charge over land; or (b) a security by way of a transfer of land held in trust to be sold and redeemable before the sale, except if the transfer is for the benefit of creditors who accept it in full satisfaction of debts owed to them; or s. 3 (c) a transfer, assignment or disposition of any estate or interest in land that is apparently absolute but intended only as a security; or (d) an instrument that, on the deposit of documents of title to land, authority to control title or a pledge to provide that control, becomes a mortgage or evidences the terms of a mortgage; S. 3(1) def. of nominated beneficiary inserted by No. 85/2005 s. 22(1)(a). nominated beneficiary of a discretionary trust, means a person nominated under section 46F; S. 3(1) def. of nominated PPR beneficiary inserted by No. 85/2005 s. 22(1)(a). nominated PPR beneficiary means a person nominated under section 46H;
(i) a regulated superannuation fund (within the meaning of the Commonwealth Superannuation Act) or is taken to be a regulated superannuation fund under that Act; or (ii) an approved deposit fund (within the meaning of the Commonwealth Superannuation Act); or (iii) a pooled superannuation trust (within the meaning of the Commonwealth Superannuation Act); S. 3(1) def. of valuation amended by No. 94/2009 s. 33(1)(b). supplementary valuation means a valuation made under section 13DF of the Valuation of Land Act 1960 that is supplementary to the last general valuation returned to the valuation authority (within the meaning of that Act) before 1 January in the year immediately preceding the tax year; s. 3 taxable land means land that is not exempt land; taxable value— (a) of land, has the meaning given in Division 3 of Part 2; (b) of transmission easements, has the meaning given in section 27; tax year means a year for or in which land tax is being assessed; S. 3(1) def. of title-based time-sharing scheme inserted by No. 69/2011 s. 27. title-based time-sharing scheme means a scheme under which participants are— (a) entitled to use, occupy and possess land to which the scheme relates for 2 or more periods during the scheme's operation; and
S. 21(2) inserted by No. 68/2007 s. 9. (2) Without limiting subsection (1), the Commissioner may— (a) use a valuation made under the Valuation of Land Act 1960 that has determined the value of each separate occupancy on land; and (b) include in a notice of assessment a description of the occupancy on land. S. 21(3) inserted by No. 68/2007 s. 9. (3) A valuation of occupancy on land made under the Valuation of Land Act 1960 is deemed to be a valuation of land for the purposes of this Act. S. 21A inserted by No. 84/2006 s. 10. 21A Objection to land tax valuation does not affect previous assessments If— (a) a person referred to in section 16(6A) of the Valuation of Land Act 1960 objects to a valuation under that Act in relation to a notice of assessment of land tax; and (b) the same valuation was used as the basis for an assessment of land tax in respect of a previous tax year— any decision on the objection, or on a review or appeal under the Valuation of Land Act 1960 concerning the objection, has no effect on the assessment referred to in paragraph (b). 22 Taxable value of parts of land not separately valued s. 21A (1) This section applies if— (a) it is necessary to determine the taxable value of part of land (the part) for or in a tax year; and
(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 (B) not used to carry on a substantial business activity; or S. 46A(3)(c) amended by No. 68/2007 s. 10(a). (c) land subject to an excluded trust; or S. 46A(3)(d) inserted by No. 68/2007 s. 10(b). (d) land subject to an administration trust.
48 What is a controlling interest in a corporation? s. 48 For the purposes of this Division, a person has, or persons have together, a controlling interest in a corporation if— (a) that person, or those persons acting together, can control the composition of the board of the corporation; or (b) that person is, or those persons acting together are, in a position to cast or control the casting of more than 50% of the maximum number of votes that might be cast at a general meeting of the corporation; or (c) that person holds, or those persons acting together hold, more than 50% of the issued share capital of the corporation. 49 Further provisions for determining whether corporations are related corporations (1) For the purposes of this Division— (a) corporations may be related corporations whether or not they own land in ; (b) a reference to the issued share capital of a corporation does not include a reference to any part of it that carries no right to participate beyond a specified amount in a distribution of either profits or capital; (c) subject to paragraphs (d) and (e), any shares held or power exercisable by a person or corporation as a trustee or nominee for another person or corporation are taken to be also held or exercisable by the other person or corporation;
business activity only because the owner lets the land for residential purposes during the absence. S. 56(3) substituted by No. 76/2012 s. 8(5). (3) Land will not be taken to be used and occupied as the principal place of residence of a person under this section unless the conditions set out in subsections (4) and (5) are both satisfied. S. 56(4) inserted by No. 76/2012 s. 8(5). s. 56 (4) The condition in this subsection is that the land— (a) was exempt land under section 54 immediately before the person's absence; or (b) was used and occupied— (i) in the case of an owner—by the owner as his or her principal place of residence for a period of at least 6 consecutive months immediately before the owner's absence; or (ii) in the case of a trustee—by a vested beneficiary in relation to the land as his or her principal place of residence for a period of at least 6 consecutive months immediately before the vested beneficiary's absence. S. 56(5) inserted by No. 76/2012 s. 8(5). (5) The condition in this subsection is that the owner or trustee has not rented out the land for a period which is 6 months or more, or for periods which total 6 months or more, in the year preceding the tax year. S. 56(6) inserted by No. 76/2012 s. 8(5). (6) The maximum period for which land can be taken to be used and occupied as the principal place of residence of a person despite the person's absence from the land under this section is 6 years from the date of the person's absence. Note If a person has been absent for more than 6 years and land ceases to be taken to be used and occupied as the principal place of residence of the person, the land will no longer be
(e) the cultivation or propagation for sale of plants seedlings mushrooms or orchids; proprietary company has the same meaning as in the Corporations Act; relevant period, in relation to a proprietary company means, for any point in time— (a) the previous 3 years; or (b) the period since the incorporation of the company— whichever is the shorter; S. 64(1) def. of specified beneficiary inserted by No. 69/2011 s. 31(1). specified beneficiary of a discretionary trust means a person specifically named in the trust deed or specifically declared in writing pursuant to the trust deed as a beneficiary whom, by the terms of the trust, the whole or any part of the trust income or property may be distributed to or vested in— (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 (b) in the event that a discretion conferred under the trust is not exercised; S. 64(1) def. of urban zone amended by No. 69/2011 s. 31(2). urban zone means a zone, or part of a zone, under a planning scheme in force under the Planning and Environment Act 1987 of a type declared under subsection (2) to be an urban zone for the purposes of this Division. (2) The Governor in Council may by Order published in the Government Gazette declare specified types of zones under planning schemes to be urban zones for the purposes of this Division.
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 Supported Residential Services (Private Proprietors) Act 2010, No. 49/2010 Assent Date: 24.8.10 Commencement Date: S. 230 on 1.7.12: s. 2(2) : This information relates only to the provision/s amending the Land Tax Act 2005 Victorian Urban Development Authority Amendment (Urban Renewal Authority Victoria) Act 2011, No. 35/2011 Assent Date: 5.7.11 Commencement Date: S. 19 on 25.10.11: Special Gazette (No. 342) 25.10.11 p. 1 : This information relates only to the provision/s amending the Land Tax Act 2005 State Taxation Acts Further Amendment Act 2011, No. 69/2011 Assent Date: 29.11.11 Commencement Date: Ss 27–36 on 30.11.11: s. 2(1) : This information relates only to the provision/s amending the Land Tax Act 2005 State Taxation and Other Acts Amendment Act 2012, No. 76/2012 Assent Date: 4.12.12 Commencement Date: Ss 3–18 on 5.12.12: s. 2(1) : This information relates only to the provision/s amending the Land Tax Act 2005 ––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Explanatory Details Endnotes No entries at date of publication.