6Principal residence land

6 Principal residence land

(1)  [Section 6 Subsection (1) amended by No. 46 of 2008, s. 29, Applied:18 Nov 2008] [Section 6 Subsection (1) amended by No. 60 of 2002, s. 24, Applied:01 Jul 2002] [Section 6 Subsection (1) amended by No. 6 of 2002, Sched. 1, Applied:01 Jul 2001] Principal residence land is land on which the principal residence of an owner of at least a 50% interest in the land or a related person of such an owner is situated.

(2)  The Commissioner is to determine that adjoining land is principal residence land if satisfied that –

(a) the land is on a separate title held by the owner of the principal residence land; and

(ab) [Section 6 Subsection (2) amended by No. 41 of 2013, s. 34, Applied:21 Oct 2013] there is no dwelling on the land that is used as a place of residence; and

(b) the land is used by that owner solely in conjunction with the principal residence land; and

(c) [Section 6 Subsection (2) amended by No. 46 of 2008, s. 29, Applied:18 Nov 2008] the owner does not receive any income from the use of that land; and

(d) [Section 6 Subsection (2) amended by No. 46 of 2008, s. 29, Applied:18 Nov 2008] the owner of at least a 50% interest in the principal residence land is also the owner of at least a 50% interest in the adjoining land.

(3)  The Commissioner, on application by a trustee of a trust, is to determine that land is principal residence land for a financial year if –

(a) the land is held by –

(i) a registered trustee company; or

(ii) an executor, administrator, guardian, committee, receiver or liquidator; or

(iia) the trustee of a special disability trust; or