S. 3(1) def. of absentee trust inserted by No. 26/2015 s. 25. absentee trust means a trust under which at least one absentee beneficiary— (a) has a beneficial interest in land subject to a fixed trust; or (b) is a unitholder in a unit trust scheme; or (c) is a specified beneficiary of a discretionary trust; S. 3(1) def. of administration trust inserted by No. 68/2007 s. 8(2). administration trust means a trust under which the assets of a deceased person are held by a personal representative, but only during the period ending on the earlier of— (a) the completion of administration of the deceased estate; or (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 of applicable general valuation repealed by No. 84/2006 s. 8.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 Australian citizen or resident inserted by No. 26/2015 s. 25. Australian citizen or resident means— (a) an Australian citizen within the meaning of the Australian Citizenship Act 2007 of the Commonwealth; or (b) the holder of a permanent visa within the meaning of section 30(1) of the Migration Act 1958 of the Commonwealth; or
(c) a New Zealand citizen who is the holder of a special category visa within the meaning of section 32(1) of the Migration Act 1958 of the Commonwealth; S. 3(1) def. of beneficiary inserted by No. 85/2005 s. 22(1)(a), amended by No. 69/2011 s. 30. beneficiary of a discretionary trust, means (except in Division 2 of Part 4) 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 (b) in the event that a discretion conferred under the trust is not exercised; S. 3(1) def. of capital improved value inserted by No. 28/2017 s. 50. capital improved value has the same meaning as in the Valuation of Land Act 1960; S. 3(1) def. of chain of trusts inserted by No. 67/2017 s. 10. chain of trusts has the meaning given in section 3D; 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 commercial residential premises inserted by No. 28/2017 s. 50. commercial residential premises has the same meaning as in the A New Tax System (Goods and Services Tax) Act 1999 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 concessional trust inserted by No. 85/2005 s. 22(1)(a), amended by No. 23/2006 s. 245. concessional trust means— (a) a trust of which each beneficiary is— (i) a person in respect of whom a guardianship order or an administration order is in force under the Guardianship and Administration Act 1986; or (ii) a person with a disability within the meaning of the Disability Act 2006; or (b) a trust created under an order of the Supreme Court for the benefit of a person under disability; controlling interest has the meaning given in section 48; corporation has the same meaning as in section 9 of the Corporations Act; S. 3(1) def. of Council inserted by No. 40/2014 s. 13(a). Council has the same meaning as in the Local Government Act 1989; S. 3(1) def. of discretionary trust inserted by No. 85/2005 s. 22(1)(a), amended by No. 76/2012 s. 3. discretionary trust means a trust under which the vesting of the whole or any part of the trust property— (a) is required to be determined by a person either in respect of the identity of the beneficiaries or the quantum of interest to be taken, or both; or
S. 3(1) def. of return date amended by Nos 94/2009 s. 33(1)(a), 69/2011 s. 34(2). return date, in relation to a valuation, is the date on which the valuation is returned to the valuation authority by the person who carried it out; site value has the same meaning as in the Valuation of Land Act 1960; special land tax means land tax imposed under Division 5 of Part 2; S. 3(1) def. of specified beneficiary inserted by No. 26/2015 s. 25. specified beneficiary, of a discretionary trust, means a beneficiary who is specifically named in the trust deed or specifically declared in writing pursuant to the trust deed as a beneficiary to or in whom, by the terms of the trust, the whole or any part of the trust income or property may be distributed or vested— (a) in the event of the exercise of a power or discretion in favour of the beneficiary (whether or not that power is presently exercisable); or (b) in the event that a discretion conferred under the trust is not exercised; spouse of a person means a person to whom the person is married; S. 3(1) def. of subsequent general valuation repealed by No. 84/2006 s. 8. * * * * *
S. 3(1) def. of valuation amended by Nos 94/2009 s. 33(1)(b), 40/2014 s. 13(b). supplementary valuation means a valuation made under section 13DF or 13L of the Valuation of Land Act 1960 that is supplementary to the last general valuation returned to the valuation authority before 1 January in the year immediately preceding the tax year; S. 3(1) def. of supported residential service inserted by No. 28/2017 s. 50. supported residential service has the meaning given in section 76(4); 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 (b) the registered proprietors of a share interest in respect of which a folio is created under section 98D of the Transfer of Land Act 1958; transfer of land includes conveyance of the land; transmission company has the same meaning as in the Electricity Industry Act 2000; transmission easement means an easement held by a transmission company;
S. 3(2) substituted by No. 12/2008 s. 73(1)(Sch. 1 item 34.2). (2) For the purposes of the definition of domestic partner in subsection (1)— S. 3(2)(a) amended by No. 4/2009 s. 37(Sch. 1 item 16.2(a)). (a) registered domestic relationship has the same meaning as in the Relationships Act 2008; and S. 3(2)(b) amended by No. 4/2009 s. 37(Sch. 1 item 16.2(b)). (b) in determining whether persons who are not in a registered domestic relationship are domestic partners of each other, all the circumstances of their relationship are to be taken into account, including any one or more of the matters referred to in section 35(2) of the Relationships Act 2008 as may be relevant in a particular case. S. 3(3) inserted by No. 85/2005 s. 22(2), amended by No. 68/2007 s. 8(4). (3) For the purposes of paragraph (b) of the definition of administration trust in subsection (1), the Commissioner may approve a further period in any particular case. S. 3A inserted by No. 26/2015 s. 26, amended by No. 40/2016 s. 19(2) (ILA s. 39B(1)). 3A Absentee controlling interest (1) For the purposes of this Act, an absentee person holds an absentee controlling interest in a corporation if— (a) the absentee person, or that person acting together with another absentee person, can control the composition of the board of the corporation; or (b) the absentee person, or that person acting together with another absentee person, is 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
scheme relates instead of the participants under that scheme. Division 3—What is the taxable value of land? S. 19 substituted by No. 84/2006 s. 9. 19 Taxable value of land S. 19(1) amended by No. 28/2017 s. 52(1). (1) Subject to subsection (1A), the taxable value of land for a tax year is an amount equal to the site value of the land as at the relevant date. S. 19(1A) inserted by No. 28/2017 s. 52(2). (1A) For the purposes of calculating vacant residential land tax, the taxable value of land for a tax year is an amount equal to the capital improved value of the land as at the relevant date. S. 19(2) amended by No. 69/2011 s. 35, substituted by Nos 40/2014 s. 14, 66/2016 s. 4. (2) The relevant date is— (a) for land that is rateable land or nonrateable leviable land— (i) subject to subparagraph (ii), the date as at which that land was valued for the purposes of the last general valuation returned to the valuation authority before 1 January in the tax year; or (ii) if that land has been valued for the purposes of a supplementary valuation after the return date of the last general valuation referred to in subparagraph (i) but before 1 January in the tax year, the return date of the supplementary valuation; and (b) for land that is non-rateable nonleviable land— (i) subject to subparagraph (ii), the date as at which rateable land or non-rateable leviable land was valued for the
the child maintenance land were the only land owned by the trustee. S. 46A(6) inserted by No. 83/2009 s. 9(2). (6) In determining whether land is used by a person to carry on a substantial business activity, account must be taken of the factors referred to in section 62(2). S. 46B inserted by No. 85/2005 s. 27. 46B Land tax for fixed trust if beneficial interests notified to Commissioner (1) A trustee of a fixed trust to which land is subject may lodge with the Commissioner a written notice of the beneficial interests in the land. S. 46B(2) substituted by No. 40/2014 s. 16. (2) A notice must be in the form, and contain the information, determined by the Commissioner. S. 46B(3) amended by No. 68/2007 s. 11, substituted by No. 40/2014 s. 16. (3) A notice takes effect for the tax year following the year in which the notice is lodged and remains in force until it is withdrawn by the trustee. S. 46B(3A) inserted by No. 40/2014 s. 16. (3A) Despite subsection (1), if a trustee withdraws a notice that is in force under this section in respect of a fixed trust, the trustee cannot lodge another notice under this section in respect of that fixed trust. (4) If a notice is in force under this section for a fixed trust— S. 46B(4)(a) amended by No. 76/2012 s. 17. (a) a beneficiary of the trust is deemed, for the purposes of this Act other than Division 1 of Part 4, to be the owner (but not to the exclusion of the trustee) of land subject to the trust that bears the same proportion to the whole of the land subject to the trust as the beneficiary's beneficial interest in land subject to the trust bears to the total beneficial interests in land subject to the
S. 54(1)(ab) inserted by No. 68/2007 s. 18(1). (ab) land owned by a person that is used and occupied as the principal place of residence of a natural person who has a right to reside on that land; S. 54(1)(b) amended by No. 76/2012 s. 5(1). (b) land owned by a trustee of a trust that is used and occupied as the principal place of residence of a vested beneficiary in relation to the land. S. 54(1A) inserted by No. 68/2007 s. 18(2). (1A) Despite subsection (1)(ab), land referred to in that subsection is not exempt land unless— (a) immediately before the natural person who has a right to reside on the land was granted the right, the land was exempt land under section 54(1)(a) or (b); and (b) that person is not entitled to— S. 54(1A)(b)(i) amended by No. 76/2012 s. 5(2). (i) an exemption under this Division in respect of any land; or S. 54(1A)(b)(ii) amended by No. 76/2012 s. 5(2). (ii) an exemption from land tax under a law of any other State or Territory that corresponds to this Division. S. 54(2) amended by Nos 68/2007 s. 18(3), 76/2012 s. 5(3). (2) Subject to section 55, subsection (1)(a) or (b) only applies if the land has been used and occupied as the principal place of residence of the owner or vested beneficiary— (a) since 1 July in the year preceding the tax year; or (b) if the owner or trustee became the owner of the land on or after 1 July in the year preceding the tax year, since a later date during that year. (3) In addition to land of an owner that is used and occupied as a person's principal place of residence
118 Transitional provisions Schedule 3, which contains transitional provisions, has effect. Sections 35(1), 36(3), 37(3) Part 1—General rates of land tax 1.1 Land tax for The rate of land tax for 2006 is set out in Table 1.1. Sch. 1 cl. 1.1 (Table 1.1) amended by No. 22/2007 s. 7(1)(a). TABLE 1.1 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 1% of the taxable value that exceeds $900 000 5. 1 190 000 1 620 000 $5580 and 15% of the taxable value that exceeds $1 190 000 6. 1 620 000 2 700 000 $12 030 and 225% of the taxable value that exceeds $1 620 000
1. Alpha (as trustee of the Alpha Unit Trust) owns taxable land. 2. The sole unitholder of the Alpha Unit Trust is Bravo (as trustee of the Bravo Unit Trust). The unitholders of the Bravo Unit Trust are— Absentee Beneficiary 1, who has a 40% unitholding; and Non-absentee Beneficiary 1, who has a 40% unitholding; and Absentee Beneficiary 2, who has a 20% unitholding. 3. The Bravo Unit Trust is an absentee trust because it has at least one absentee beneficiary—see paragraph (b) of the definition of absentee trust. The Alpha Unit Trust is also an absentee trust because its unitholder, Bravo, is an absentee beneficiary holding an interest as trustee of an absentee trust—see paragraph (b) of the definition of absentee trust and paragraph (b)(ii) of the definition of absentee beneficiary. 4. The Alpha Unit Trust and the Bravo Unit Trust are in a chain of trusts—see section 3D. 5. The absentee proportion of interests in land subject to the Alpha Unit Trust is calculated as follows— Step 1—calculate Absentee Beneficiary 1's interest in the land Multiply Absentee Beneficiary 1's interest in the Bravo Unit Trust (40%) by Bravo's interest (as trustee of the Bravo Unit Trust) in the Alpha Unit Trust (100%). 40% × 100% = 40%.
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 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 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