3AFLevy of land tax after 31 December 1996

#### 3AF Levy of land tax after 31 December 1996 3AF Levy of land tax after 31 December 1996 > > (1) Except as provided by subsection (2), in respect of the taxable value of all the land owned by any person at midnight on 31 December 1996 there is to be charged, levied, collected and paid under the provisions of the Principal Act and in the manner prescribed under that Act, land tax for the period of 12 months commencing on 1 January in the next succeeding year and at the rates set out in Schedule 7. > > > (2) In respect of the taxable value of all the land owned by a person at midnight on 31 December 1996 where— > > > > > (a) the owner is a company classified under section 29 of the Principal Act as a non-concessional company, or > > > > > (b) the land is subject to a special trust, > > > > land tax for the period of 12 months commencing on 1 January in the next succeeding year is, except as provided by section 27 (2A) of the Principal Act, to be charged, levied, collected and paid as referred to in subsection (1) at the rate of 1.65 cents for each $1 of the taxable value. > > > (3) If 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 $100, no land tax is payable. > > > (4) (Repealed) > > **s 3AF:** Ins 1996 No 55, Sch 1 (2). Am 1997 No 37, Sch 2 \[2\] \[3\]; 1999 No 10, Sch 3 \[7\].