Land exempted from land tax
11 Land exempted from land tax
The following parcels of land are exempted from land tax:
a parcel of land held under a development lease by a corporation;
a parcel of residential land owned by a not-for-profit housing corporation.
In this section:
development lease, of land, means a lease for the development of the land by the lessee, or at the lessee’s expense, by clearing, filling, grading, draining, levelling or excavating the land to make it suitable for subdivision into parcels of land to be leased.
not-for-profit housing corporation means a corporation registered under the Corporations Act or the Co‑operatives National Law (ACT) with a constitution that—
states that the main objective of the corporation is the provision of housing; and
prohibits the corporation from making a distribution (whether in money, property or another way) to its members.
Section 15 (2) disapplies this section in certain circumstances.
This Act’s bill:Explanatory statementSecond reading speech
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.