Rent
55 Rent
Despite anything in a pastoral lease document, the rent payable for a financial year in respect of a pastoral lease is to be calculated using the formula:
PLR = ECC x PLRF
where:
PLR = the annual pastoral lease rent in dollars
ECC = the estimated carrying capacity expressed in animal equivalents as determined by the Agency under section 54
PLRF = the pastoral lease rent factor declared under subsection (2) or (3)
The Minister may, before 30 June in a financial year, by
Gazette notice, declare the pastoral lease rent factor for a
District for the following financial year.
If the Minister does not declare the pastoral lease rent factor for a District under subsection (2) before 30 June in a financial year, the pastoral lease rent factor for the following financial year remains unchanged.
This Act’s bill:Second reading speech
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