sec.245PNotice of particular decisions about future use of land

### sec.245P Notice of particular decisions about future use of land This section applies if the acquirer decides not to use the land for the purpose, or otherwise in the way, proposed when the concession was applied in relation to the relevant transaction. Without limiting subsection (1) , each of the following is a decision for this section— a decision not to construct a build to rent development on the land; a decision to construct a build to rent development on the land of a smaller scale than the development originally proposed; if the land is land used for an eligible BTR development that is a staged development and at least 1 stage of the development is not a completed stage— a decision not to proceed with the stage; or a decision to change the nature of the stage; a decision to transfer or subdivide the land. Within 1 month after making the decision, the acquirer must give the commissioner notice in the approved form of the decision. 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. However, subsection (3) does not apply in relation to a decision mentioned in subsection (2) (d) if, when the decision is made, the acquirer has obtained a BTR land tax concession in relation to the land for at least 5 consecutive financial years. If the acquirer gives notice under this section of a decision for which the acquirer is also required to give notice under the Land Tax Act 2010 , section 58ZA , the acquirer is taken to have complied with that section in relation to the decision. s 245P ins 2023 No. 18 s 4 (sec.245P-ssec.1) This section applies if the acquirer decides not to use the land for the purpose, or otherwise in the way, proposed when the concession was applied in relation to the relevant transaction. (sec.245P-ssec.2) Without limiting subsection (1) , each of the following is a decision for this section— a decision not to construct a build to rent development on the land; a decision to construct a build to rent development on the land of a smaller scale than the development originally proposed; if the land is land used for an eligible BTR development that is a staged development and at least 1 stage of the development is not a completed stage— a decision not to proceed with the stage; or a decision to change the nature of the stage; a decision to transfer or subdivide the land. (sec.245P-ssec.3) Within 1 month after making the decision, the acquirer must give the commissioner notice in the approved form of the decision. 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. (sec.245P-ssec.4) However, subsection (3) does not apply in relation to a decision mentioned in subsection (2) (d) if, when the decision is made, the acquirer has obtained a BTR land tax concession in relation to the land for at least 5 consecutive financial years. (sec.245P-ssec.5) If the acquirer gives notice under this section of a decision for which the acquirer is also required to give notice under the Land Tax Act 2010 , section 58ZA , the acquirer is taken to have complied with that section in relation to the decision. - (a) a decision not to construct a build to rent development on the land; - (b) a decision to construct a build to rent development on the land of a smaller scale than the development originally proposed; - (c) if the land is land used for an eligible BTR development that is a staged development and at least 1 stage of the development is not a completed stage— (i) a decision not to proceed with the stage; or (ii) a decision to change the nature of the stage; - (i) a decision not to proceed with the stage; or - (ii) a decision to change the nature of the stage; - (d) a decision to transfer or subdivide the land. - (i) a decision not to proceed with the stage; or - (ii) a decision to change the nature of the stage;