Relevant proportion
30 Relevant proportion
The relevant proportion for each property sector is as follows—
for public benefit land—0.33%,
for farmland—4.56%,
for residential land—58.07%,
for industrial land—10.38%,
for commercial land—26.66%.
The regulations may specify a different relevant proportion for any property sector and, if they do, the relevant proportion for the property sector is the proportion specified in the regulations.
The regulations may specify different proportions for different financial years.
This provision refers to the regulations (The regulations may specify
, specified in the regulations
). Made under this Act:
This Act’s bill:Explanatory memorandumSecond reading speech
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