Assessment of annual rent
51 Assessment of annual rent
As soon as practicable after 1 April in each year, the Minister must cause an assessment to be made of the annual rent payable for each rural Western lands holding for the financial year commencing the next 1 July.
In making such an assessment, the Minister is to have regard to the circumstances of each rural Western lands holding as at 1 April in that year.
The Minister must cause written notice of the assessment for each rural Western lands holding to be served on the owner of the holding as soon as practicable after the assessment is made.
The due date for payment of the annual rent for a rural Western lands holding is 1 July of the financial year for which the rent is payable.
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