sec.152HLiability to contribute

sec.152H Liability to contribute

For each financial year the owners of prescribed properties must contribute in accordance with this division to the cost of— administering and giving effect to this Act; and managing the matters mentioned in section 152F (5) (b) . If a parcel of farming land shares a boundary with 1 or more other parcels of farming land (each a contiguous parcel ), and each of the contiguous parcels are owned by the same owner, the contiguous parcels are, for this division, taken to be 1 prescribed property. Despite subsection (2) , a portion of a contiguous parcel that is a separate parcel under section 152E (1) , definition prescribed property , paragraph (b) is a separate prescribed property for this division. For each financial year there must be paid from the consolidated fund to the department, for the fund— an amount representing one-seventh of the estimates for the financial year in question of the amount to be received from the owners of prescribed properties other than prescribed properties owned by a Commonwealth public trading enterprise; and such further amount as the Treasurer may authorise. If, for any financial year, the Treasurer believes that any anticipated reduction by the Commonwealth in financial assistance payments to the State (not including any grant related to the provision of a service consistent with the objects of this Act to properties owned by the Commonwealth) will be attributable to the amount payable under this division by Commonwealth public trading enterprises as owners of prescribed properties, the Treasurer may make a corresponding reduction in the amount payable under subsection (4) (a) . In this section— Commonwealth public trading enterprises means instrumentalities of the Commonwealth liable to pay the taxes and other charges of the State. farming land means land used for farming within the meaning of the Land Valuation Act 2010 , section 48 . s 152H (prev s 107) amd 1996 No. 42 s 21 sch 2 ; 2001 No. 76 ss 22 , 11 sch 2 ; 2013 No. 28 s 35 ; 2024 No. 22 s 59 reloc and renum 2024 No. 22 s 60 (2) (sec.152H-ssec.1) For each financial year the owners of prescribed properties must contribute in accordance with this division to the cost of— administering and giving effect to this Act; and managing the matters mentioned in section 152F (5) (b) . (sec.152H-ssec.2) If a parcel of farming land shares a boundary with 1 or more other parcels of farming land (each a contiguous parcel ), and each of the contiguous parcels are owned by the same owner, the contiguous parcels are, for this division, taken to be 1 prescribed property. (sec.152H-ssec.3) Despite subsection (2) , a portion of a contiguous parcel that is a separate parcel under section 152E (1) , definition prescribed property , paragraph (b) is a separate prescribed property for this division. (sec.152H-ssec.4) For each financial year there must be paid from the consolidated fund to the department, for the fund— an amount representing one-seventh of the estimates for the financial year in question of the amount to be received from the owners of prescribed properties other than prescribed properties owned by a Commonwealth public trading enterprise; and such further amount as the Treasurer may authorise. (sec.152H-ssec.5) If, for any financial year, the Treasurer believes that any anticipated reduction by the Commonwealth in financial assistance payments to the State (not including any grant related to the provision of a service consistent with the objects of this Act to properties owned by the Commonwealth) will be attributable to the amount payable under this division by Commonwealth public trading enterprises as owners of prescribed properties, the Treasurer may make a corresponding reduction in the amount payable under subsection (4) (a) . (sec.152H-ssec.6) In this section— Commonwealth public trading enterprises means instrumentalities of the Commonwealth liable to pay the taxes and other charges of the State. farming land means land used for farming within the meaning of the Land Valuation Act 2010 , section 48 .