(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 of applicable general valuation repealed by No. 84/2006 s. 8.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), 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 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;
make any payments of a rental nature for that right; joint owners means persons— (a) who own land jointly or in common, whether as partners or otherwise; or (b) who are deemed by this Act to be joint owners; land includes— (a) all land and tenements; (b) all interests in land; S. 3(1) def. of land titles legislation inserted by No. 40/2014 s. 27. land titles legislation has the same meaning as in section 5 of the Electronic Conveyancing (Adoption of National Law) Act 2013; 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
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 of subsequent general valuation repealed by No. 84/2006 s. 8.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 trust inserted by No. 85/2005 s. 22(1)(a). superannuation trust means, in relation to a tax year— (a) a trust established on or before 30 June in the year preceding the tax year that, in relation to the year of income ending in that year, is— s. 3 (i) a complying superannuation fund (within the meaning of section 42 or 42A of the Commonwealth Superannuation Act); or (ii) a complying approved deposit fund (within the meaning of section 43 of the Commonwealth Superannuation Act); or (iii) a pooled superannuation trust (within the meaning of section 44 of the Commonwealth Superannuation Act); or (b) a trust established after 30 June in the year preceding the tax year that, as at midnight on 31 December in that year, is— (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 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 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;
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; S. 3(1) def. of valuation authority inserted by No. 69/2011 s. 34(1). valuation authority has the same meaning as in section 2(1) of the Valuation of Land Act 1960; s. 3 Victorian Minister means a Minister of the Crown in right of Victoria; S. 3(1) def. of wholesale unit trust scheme inserted by No. 85/2005 s. 22(1)(a). wholesale unit trust scheme means a unit trust scheme that is registered under Division 7 of Part 2 of Chapter 3 of the Duties Act 2000 as a wholesale unit trust scheme, an imminent wholesale unit trust scheme or a declared wholesale unit trust scheme; S. 3(1) def. of widely held trust inserted by No. 85/2005 s. 22(1)(a). widely held trust has the same meaning as that term would have in the Duties Act 2000 if a reference in paragraph (b) of the definition of widely held trust in section 3(1) of that Act to "300 registered unitholders" were a reference to "50 registered unitholders"; year means a calendar year. 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
(a) is occupied separately from other land in the parcel; or (b) is obviously adapted to being so occupied. 38 Assessment of joint owners of land (1) Joint owners of taxable land are to be assessed for land tax on land in accordance with this section. (2) Joint owners of taxable land are to be jointly assessed for land tax on the land as if it were owned by a single person, without regard to— (a) the separate interest of each joint owner; or (b) any other land owned by any joint owner (either alone or jointly with someone else). (3) Each joint owner of taxable land is also to be separately assessed for land tax on— (a) the owner's individual interest in the land (as if the owner were the owner of a part of the land in proportion to that interest); and (b) any other taxable land owned by the owner alone; and (c) the owner's individual interest in any other taxable land. (4) There is to be deducted from the land tax assessed for a joint owner under subsection (3) an amount (if any) necessary to avoid double taxation, being the lesser of— s. 38 (a) the amount determined by the formula— where— A is the proportion of the owner's individual interest in the jointly-owned land to the total interests in that land;
(1) An owner who was assessed for and paid land tax in respect of a year in respect of land that is not occupied as the principal place of residence of the owner is entitled to a refund of that land tax if— S. 61(1)(a) substituted by No. 76/2012 s. 12(1). (a) the owner was unable to occupy that land as his or her principal place of residence as at 31 December in the preceding year because a residence was being constructed or renovated on it; and S. 61(1)(ab) inserted by No. 76/2012 s. 12(1). (ab) once construction or renovation of that residence has been completed, the owner continuously uses and occupies the land as his or her principal place of residence for at least 6 months commencing in that year; and (b) an application for a refund is made before the end of the next following year. S. 61(2) substituted by No. 76/2012 s. 12(2). (2) A trustee who was assessed for and paid land tax in respect of a year in respect of land that is not occupied as the principal place of residence of a vested beneficiary in relation to the land is entitled to a refund of that land tax if— s. 61 (a) the vested beneficiary was unable to occupy the land as his or her principal place of residence as at 31 December the preceding year because a residence was being constructed or renovated on it; and (b) once construction or renovation of that residence has been completed, the vested beneficiary continuously uses and occupies the land as his or her principal place of residence for at least 6 months commencing in that year; and (c) an application for a refund is made before the end of the next following year.
Sch. 1 cl. 2.2 (Heading) amended by No. 31/2008 s. 19(3)(a). Sch. 1 cl. 2.2 inserted by No. 22/2007 s. 7(4), amended by No. 31/2008 s. 19(3)(b). 2.2 Rate of land tax on transmission easements for 2008 Sch. 1 The rate of land tax on transmission easements for 2008 is set out in Table 2.2. TABLE 2.2 Item Column 1 Taxable value not less than Column 2 Taxable value less than Column 3 Rate of land tax $ $ 1 0 225 000 Nil 2 225 000 540 000 $250 and 02% of the taxable value that exceeds $225 000 3 540 000 900 000 $880 and 05% of the taxable value that exceeds $540 000 4 900 000 1 620 000 $2680 and 08% of the taxable value that exceeds $900 000 5 1 620 000 2 700 000 $8440 and 13% of the taxable value that exceeds $1 620 000 6 2 700 000 $22 480 and 5% of the taxable value that exceeds $2 700 000
Hume City Council Kingston City Council Knox City Council Manningham City Council Maroondah City Council Melton City Council Mitchell Shire Council Mornington Peninsula Shire Council Nillumbik Shire Council Whittlesea City Council Wyndham City Council Yarra Ranges Shire Council Sch. 2 __________________ SCHEDULE 3 Sch. 3 Section 118 1 Definitions In this Schedule— commencement day means 1 January 2006; old Act means the Land Tax Act 1958 as in force immediately before the commencement day. 2 Savings and transitional regulations The regulations may contain provisions of a savings and transitional nature consequent on the enactment of this Act.