3Levy of land tax

#### 3 Levy of land tax 3 Levy of land tax > > (1) Except as provided by subsection (1A), in respect of the taxable value of all the land owned by any person at midnight on the thirty-first day of December in any year from 1973 to 1983, both inclusive, there shall be charged, levied, collected and paid under the provisions of the Principal Act and in the manner therein prescribed, land tax for the period of twelve months commencing on the first day of January in the next succeeding year and at the respective rates set out in Schedule 1. > > > (1A) In respect of the taxable value of all the land owned at midnight on 31 December 1983 by a company classified under section 29 of the Principal Act as a non-concessional company, land tax for the period of 12 months commencing on 1 January in the next succeeding year shall, except as provided by section 27 (2A) of the Principal Act, be charged, levied, collected and paid as referred to in subsection (1) at the rate of 2.4 cents for each $1 of the taxable value. > > > (1B) (Repealed) > > > (2) Where the total amount of land tax payable pursuant to this section by any person in any year would, but for this subsection, be less than $50, no land tax shall be payable. > > > (3) (Repealed) > > **s 3:** Am 1963 No 40, sec 3; 1965 No 33, First Sch; 1967 No 59, sec 3; 1968 No 62, sec 3; 1969 No 69, sec 3; 1970 No 64, sec 3; 1971 No 48, sec 3; 1973 No 70, sec 7 (a); 1975 No 83, Sch (1); 1983 No 172, Sch 1 (1); 1984 No 130, Sch 1 (1); 1999 No 10, Sch 3 \[1\].