Notice that land no longer exempt

Current

(1)

This section applies if—

(a)

land is exempt land for a financial year; and

(b)

when a liability for land tax arises for the next financial year, the land is no longer exempt land; and

(c)

the ownership of the land has not changed.

(2)

The owner of the land must give the commissioner notice that the land is no longer exempt land.

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.

(3)

The notice must be given within 1 month after the start of the next financial year.

This Act’s bill:Explanatory memorandum Second reading speech

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77 Notice that land no longer exempt