Australian Capital Territory
Taxation Administration (Rates) Determination 2011 (No 1)
Disallowable instrument DI2011–63
made under the  
Taxation Administration Act 1999, s139 (Determination of amounts payable under tax laws)
EXPLANATORY STATEMENT

Purpose

1. 	The purpose of this instrument is to revoke DI2010-94, and to determine the variable rating factors for the purpose of the calculation of rates payable under the Rates Act 2004 (the Rates Act).

Summary

2. 	Under section 139 of the Taxation Administration Act 1999 (the TAA) the Minister has the authority to determine amounts payable under a tax law.

3. 	Section 4 of the TAA provides that the Rates Act is a tax law.

4. 	This instrument determines different amounts for the FC or fixed charge and the P or percentage rate.  It also determines the TA or threshold amount for section 14 (3) of the Rates Act.

5. 	This instrument determines FCC or fixed charge for a parcel of commercial land, FCR or fixed charge for a parcel of residential land, the TA or threshold amount, PC or percentage rate for a parcel of commercial land, and PR or percentage rate for a parcel of residential land for section 34 (4) of the Rates Act.

Changes in this Determination

6. 	For section 14 (3) of the Rates Act, the fixed charge (FC) is determined at:

•	$555 for residential land (an increase from $532);

•	$1,258 for commercial land (an increase from $1,147); and

•	$126 for rural land (an increase from $116).

7. 	For section 14 (3) of the Rates Act it determines the different amounts for P or percentage rate at:

•	0.2727 per cent for residential land (reduced from 0.2902 per cent);

•	0.7711 per cent for commercial land (increased from 0.7335 per cent); and

•	0.1579 per cent for rural land (reduced from 0.1622 per cent).

8. 	The threshold amount (TA) for sections 14 (3) and 34 (4) is determined at $16,500 (unchanged from the previous instrument).

9.	For section 34 (4) of the Rates Act this instrument determines that:

•	FCC or fixed charge for a parcel of commercial land is $1,258 (an increase from $1,147); 

•	FCR or fixed charge for a parcel of residential land is $555 (an increase from $532);

•	PC or the percentage rate for commercial land is 0.7711 per cent (increased from 0.7335 per cent); and

•	PR or the percentage rate for residential land is 0.2727 per cent (reduced from 0.2902 per cent)

10. 	This determination commences on 1 July 2011.

Authorised by Treasurer