19DLimited exempt land: new properties available for rent

19D Limited exempt land: new properties available for rent

[Section 19D Inserted by No. 5 of 2018, s. 13, Applied:01 Jul 2018]

(1)  Land tax is not payable in respect of land on which a dwelling is located, during the exemption period for the land, if –

(a) the land is general land; and

(b) each dwelling on the land is a new dwelling; and

(c) [Section 19D Subsection (1) amended by S.R. 2019, No. 28, Applied:05 Jun 2019] [Section 19D Subsection (1) amended by S.R. 2023, No. 25, Applied:31 May 2023] [Section 19D Subsection (1) amended by No. 5 of 2024, s. 10, Applied:01 Jul 2024] the first occupancy permit issued in respect of the initial dwelling on the land is issued within the period commencing on 8 February 2018 and ending on 30 June 2026; and

(d) at the commencement of the exemption period for the land –

(i) at least one dwelling on the land is the subject of a relevant residential tenancy agreement; and

(ii) the owner of the land intends that each dwelling on the land is to be the subject of a relevant residential tenancy agreement; and

(e) the owner of the land has applied to the Commissioner, in a form approved by the Commissioner, for land tax to not be payable in respect of the land during the exemption period for the land; and

(f) the Commissioner has approved the application referred to in paragraph (e) in respect of the land.

(2)  An exemption under subsection (1) in respect of land ceases to have effect –

(a) if, during a financial year that forms part of the exemption period for the land –

(i) a dwelling on the land is sold; or

(ii) the land ceases to be general land; or