Reassessment—demolition or renovations
28 Reassessment—demolition or renovations
This section applies if—
a home unit company’s liability for land tax for a financial year (the relevant year) is calculated on the basis that a unit is used as a person’s home under section 38 as applied by section 26(5); and
the person mentioned in section 38 does not resume using the unit as the person’s principal place of residence before a liability for land tax arises for the next financial year.
The home unit company must give notice to the commissioner stating the person did not resume using the unit as his or her principal place of residence before a liability for land tax arose for the next financial year.
Note—
Under the Administration Act, the requirement under this subsection is a lodgement requirement for which a failure to comply is an offence under section 121 of that Act.
The notice mentioned in subsection (2) must be given within 28 days after the day on which the liability mentioned in subsection (1)(b) arises.
The commissioner must make a reassessment of the home unit company’s liability for land tax for the relevant year on the basis that the unit was not a home unit.
This Act’s bill:Explanatory memorandumSecond reading speech
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