Land Tax Act 2000
25Subdivisions
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25 Subdivisions
If land is subdivided within the meaning of Part 3 of the Local Government (Building and Miscellaneous Provisions) Act 1993 , the land value of that land is –
(a) [Section 25 Amended by No. 6 of 2002, Sched. 1, Applied:01 Jul 2001] [Section 25 Amended by No. 8 of 2008, s. 34, Applied:01 Jul 2008] before any block in that subdivision is sold or transferred, the land value determined as if it were a single parcel of land; and
(b) [Section 25 Amended by No. 6 of 2002, Sched. 1, Applied:01 Jul 2001] [Section 25 Amended by No. 8 of 2008, s. 34, Applied:01 Jul 2008] after a block in that subdivision is sold or transferred, the aggregate land value of the remaining blocks not sold nor transferred.