Land Tax Act 2004

This section applies if—

land tax is imposed on a parcel of rateable land; and

the owner of the parcel of land fails to comply with section 14 (Commissioner to be told of change in circumstances).

The owner is liable to pay interest on the amount of land tax from the end of 30 days after the 1st day of the 1st quarter for which the tax is imposed.

Interest on the amount of land tax is worked out—

for each month that the amount is payable; and

on the 1st day of that month; and

at the interest rate applying to that day; and

on the total amount of land tax that is payable on a day when the interest is worked out.

The Minister may determine an interest rate for this section under the Taxation Administration Act, s 139.

The Taxation Administration Act, division 5.2 (Penalty tax) applies to the owner of the parcel of land as if—

the owner’s failure to comply with section 14 were a tax default; and

a reference to interest under division 5.1 were a reference to interest under this section; and

a reference to the amount of tax unpaid were a reference to the amount of land tax payable.

This section applies to land tax imposed before or after the commencement of this section.

Section 9 imposes land tax on unit subdivisions.