Exemptions in relation to rezonings underway before 15 May 2021
40 Exemptions in relation to rezonings underway before 15 May 2021
Windfall gains tax is not imposed on land that is rezoned by a WGT event if the Commissioner is satisfied that—
the planning scheme amendment constituting the rezoning was prepared by a Council; and
a request for the amendment was created and registered in the Amendment Tracking System by the Council before 15 May 2021; and
before 15 May 2021 the owner of the land—
approached the Council to request the rezoning; and
paid for, was liable to pay for, or had otherwise performed or procured relevant work in relation to the rezoning; or
paid, or was liable to pay, relevant costs to support consideration of the rezoning; and
the total value of the relevant work and relevant costs referred to in paragraph (c)(ii) and (iii) was not less than the threshold amount.
Windfall gains tax is not imposed on land that is rezoned by a WGT event if the Commissioner is satisfied that—
the planning scheme amendment constituting the rezoning was prepared by or at the request of the Planning Minister; and
the Planning Minister agreed before 15 May 2021 to prepare the amendment; and
before 15 May 2021 the owner of the land—
approached the Planning Minister to request the rezoning; and
paid for, was liable to pay for, or had otherwise performed or procured relevant work in relation to the rezoning; or
paid, or was liable to pay, relevant costs to support consideration of the rezoning; and
the total value of the relevant work and relevant costs referred to in paragraph (c)(ii) and (iii) was not less than the threshold amount.
In this section—
S. 40(3) def. of Amendment Tracking System amended by No. 38/2023 s. 22.
Amendment Tracking System means the system managed by the Department of Transport and Planning to register, track and process planning scheme amendments;
Council has the same meaning as in the Local Government Act 1989;
relevant costs means costs payable under regulation 6, 7 or 8 of the Planning and Environment (Fees) Regulations 2016;
relevant work means professional analysis or assessment that, in the Commissioner's opinion, is necessarily performed in preparing for or seeking a rezoning of land including but not limited to—
surveying analysis; and
engineering analysis; and
traffic analysis; and
master planning analysis; and
Aboriginal cultural heritage assessment; and
architectural analysis; and
environmental analysis—
but not including works done to the land itself, such as remediation or land clearing;
threshold amount means the lesser of—
1% of the capital improved value of the land immediately before the WGT event; or
$100 000.
S. 40A inserted by No. 23/2022 s. 36.
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