16GDetermination that owner of land is not foreign person

16G Determination that owner of land is not foreign person

[Section 16G of Part 2 Inserted by No. 16 of 2022, s. 8, Applied:01 Jul 2022]

(1)  An owner of land may apply to the Commissioner, in writing, for a determination under this section, in respect of a financial year, if –

(a) the owner was a foreign person at the commencement of the financial year; and

(b) as a result of being a foreign person, the owner is liable to pay foreign investor land tax in respect of the financial year.

(2)  After considering an application under subsection (1) in respect of a financial year, the Commissioner may –

(a) determine that the applicant is not a foreign person, in respect of the financial year, for the purposes of this Act; or

(b) refuse to grant a determination under this section to the applicant.

(3)  If the Commissioner makes a determination under subsection (2)(a) that an applicant is not a foreign person, in respect of a financial year, for the purposes of this Act, the Commissioner must –

(a) reassess the foreign investor land tax payable in respect of the land for the financial year as if, at the commencement of the financial year, the applicant was not a foreign person for the purposes of this Act; and

(b) refund any amount of foreign investor land tax paid by the person for the financial year that is in excess of the amount of foreign investor land tax so reassessed.

(4)  A determination of the Commissioner under subsection (2) is a non-reviewable decision within the meaning of the Taxation Administration Act 1997 .

(5)  If a determination under subsection (2)(a) was made as a result of an application containing, or the applicant providing, false or misleading information, the Commissioner may –

(a) revoke the determination; and