2005
THE LEGISLATIVE ASSEMBLY
FOR THE AUSTRALIAN CAPITAL TERRITORY

(As presented)
(Treasurer)
Rates Amendment Bill 2005

A Bill for
An Act to amend the Rates Act 2004

    

The Legislative Assembly for the Australian Capital Territory enacts as follows:

1	Name of Act
This Act is the Rates Amendment Act 2005.
2	Commencement
This Act commences on 1 July 2005.
Note	The naming and commencement provisions automatically commence on the notification day (see Legislation Act, s 75 (1)).
3	Legislation amended
This Act amends the Rates Act 2004.
4	Section 14
substitute
14	Imposition of rates
	(1)	Rates of the fixed charge are imposed for a parcel of rateable land that has an average unimproved value of the threshold amount or less.
	(2)	Rates are imposed for a parcel of rateable land that has an average unimproved value of more than the threshold amount in accordance with the following formula:
FC + ((AUV - TA) × P)
	(3)	In this section:
AUV means the average unimproved value of the parcel.
FC (or fixed charge) means the fixed charge determined under the Taxation Administration Act, section 139 for the parcel.
P means the percentage rate determined under the Taxation Administration Act, section 139 for the parcel.
TA (or threshold amount) means the threshold amount determined under the Taxation Administration Act, section 139 for the parcel.
Note	Different fixed charges, amounts, or percentage rates may be determined for residential, commercial or rural land (see Legislation Act, s 48).

Endnotes
1	Presentation speech
	Presentation speech made in the Legislative Assembly on	2005.
2	Notification
	Notified under the Legislation Act on	2005.
3	Republications of amended laws
	For the latest republication of amended laws, see www.legislation.act.gov.au.

© Australian Capital Territory 2005