Legislative Assembly for the ACT: 2002 Week 8 Hansard (25 June) . . Page.. 2212 ..
This bill amends the Rates and Land Tax Act. Currently, all residential properties that are not rented are exempt from land tax. Under this bill, from 1 October 2002, residential properties owned by companies or trustees will become liable for land tax, even if they are not rented. Existing land tax exemptions for land use for primary production, the Commissioner for Housing, retirement villages, nursing homes and religious institutions will continue to apply.
Exemptions from the new land tax provisions will be provided in the situation where: a property is held by a builder's or developer's company for the construction of residential premises; a property is held by a trustee in relation to a deceased estate or a person under a legal disability; a property is held by a trustee but occupied by a person with a life tenancy under the will of a deceased person, and not-for-profit housing companies.
Another provision of this bill increases the marginal land tax rates from 1 October 2002 for all non-residential properties with average unimproved values above $100,000. These rates have not been amended since the introduction in 1993. There has been a shift in the land tax burden away from non-residential to residential properties. The rate of increase for non-residential properties will address this imbalance.
Mr Speaker, I commend the Revenue Legislation Amendment Bill 2002 to the Assembly.
Debate (on motion by Mr Humphries ) adjourned to the next sitting.
Mr Speaker presented the following paper:
Parliamentary privilege-Examination of documents-Letter of advice to Mr Speaker from the Deputy Clerk and Serjeant-at-Arms in relation to the examination of documents which are the subject of seizure under warrant, pursuant to paragraph (3) of the resolution of the Assembly of 7 March 2002, as amended on 9 May 2002, dated 5 June 2002.
Mr Quinlan presented the following papers:
Ownership agreementsLegislative Assembly for the ACT: 2002-2003 Ownership agreements between the Treasurer and Chief Executive and Executives from the following agencies:
Chief Minister's Department, dated 20 and 21 June 2002.
Department of Education and Community Services, dated 19 and 20 June 2002.
Department of Health and Community Care, dated 20 and 21 June 2002.
Department of Justice and Community Safety, dated 19 and 20 June 2002.
Department of Treasury, dated 21 June 2002.
Department of Urban Services, dated 21 June 2002.
A.C.T. Forests, dated 20 and 21 June 2002.
A.C.T. Housing, dated 21 June 2002, dated 20 June 2002.
A.C.T. Occupational Health and Safety Commission (Workcover), dated 20 June 2002.
INTACT, dated 18, 29 and 20 June 2002.
Land, dated 20 and 21 June 2002.