Notice about continued use of land for eligible BTR development
58Z Notice about continued use of land for eligible BTR development
This section applies to the owner of land that is land used for an eligible BTR development for a financial year if, under section 58S(3) or (4), the owner need not make an application mentioned in section 58S(1) in relation to the owner’s liability for land tax for the financial year.
The owner must, within 1 month after the start of the financial year, give the commissioner notice in the approved form stating—
if section 58S(3) applies—that the land continues to be used for an eligible BTR development for the financial year; or
if section 58S(4) applies—that the land continued to be used for an eligible BTR development from the day the owner started to own the land until the last day of the previous financial year.
Notes—
1 See division 3 for when land is land used for an eligible BTR development for a financial year.
2 Under the Administration Act, the requirement under this section is a lodgement requirement for which a failure to comply is an offence under section 121 of that Act.
This Act’s bill:Explanatory memorandumSecond reading speech
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.