2011
THE LEGISLATIVE ASSEMBLY
FOR THE AUSTRALIAN CAPITAL TERRITORY

(As presented)
(Treasurer)
Land Tax Amendment Bill 2011

A Bill for
An Act to amend the Land Tax Act 2004

    

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

1	Name of Act
This Act is the Land Tax Amendment Act 2011.
2	Commencement
This Act commences on the day after its notification day.
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 Land Tax Act 2004.
4	New section 14A
insert
14A	Commissioner to be told if residential land owned by an individual as trustee
	(1)	This section applies in relation to a parcel of residential land that is owned by an individual as trustee.
	(2)	The individual must tell the commissioner, in writing—
	(a)	that the individual owns the parcel as trustee; and
	(b)	when the ownership as trustee began.
Note 1	If a form is approved under the Taxation Administration Act 1999, s 139C, the form must be used. 
Note 2	It is an offence to fail to notify the commissioner under this section (see Taxation Administration Act 1999, s 67 (2)).
Note 3	It is also an offence to knowingly avoid paying, or disclosing a liability to pay, part or all of an amount of tax (see Taxation Administration Act 1999, s 65 (1)).	
	(3)	The individual must tell the commissioner the information mentioned in subsection (2) not later than 30 days after—
	(a)	if there is a change of ownership of the parcel—the day the ownership changes; or
	(b)	in any other case—the day the ownership as trustee begins.

Endnotes
1	Presentation speech
	Presentation speech made in the Legislative Assembly on	2011.
2	Notification
	Notified under the Legislation Act on	2011.
3	Republications of amended laws
	For the latest republication of amended laws, see www.legislation.act.gov.au.

© Australian Capital Territory 2011