43Requirements for classification as public benefit land

43 Requirements for classification as public benefit land

43 Requirements for classification as public benefit land

(1) Land meets the requirements for classification as public benefit land if:

(a) the land is not-for-profit land, and

(b) the liable person is using the land for a purpose referred to in Schedule 1, and

(c) that purpose is the dominant use of the land.

(2) Land is not-for-profit land if:

(a) the land is not used for any profit-making purpose, or

(b) the dominant use of the land is for a purpose that is not a profit-making purpose.

(3) Land may be used for a profit-making purpose even if no profit is made.

(4) The regulations may declare any use of land to be, or not to be, for a profit-making purpose.

(5) The regulations may amend Schedule 1.

(6) A provision of a regulation that is made under this section may specify the date on and from which the provision takes effect for classification purposes. The date may occur on or after the date of publication of the regulation on the NSW legislation website.

(7) If no date is specified, any change in the requirements for classification of land made by the regulation is taken to have effect at the beginning of the first date of the next quarterly instalment period after the regulation takes effect.