119Repeal of sections on 1 January 2034

119 Repeal of sections on 1 January 2034

The following sections are repealed on 1 January 2034—

(a) section 38(7);

(b) section 46B(8) and (9);

(c) section 46C(7) and (8);

(d) section 46IB(7);

(e) section 46IC(7).

Schedules

Schedule 1—Land tax rates

Sections 35(1), 36(3), 37(3)

Part 1—General rates of land tax

1.1 Land tax for 2006

The rate of land tax for 2006 is set out in Table 1.1.

Sch. 1 cl. 1.1 (Table 1.1) amended by No. 22/2007 s. 7(1)(a).

Table 1.1

| Item | Column 1 Taxable value not less than | Column 2 Taxable value less than | Column 3 Rate of land tax | | 4. | 900 000 | 1 190 000 | $2680 and 1% of the taxable value that exceeds $900 000 | | 5. | 1 190 000 | 1 620 000 | $5580 and 1⋅5% of the taxable value that exceeds $1 190 000 | | 6. | 1 620 000 | 2 700 000 | $12 030 and 2⋅25% of the taxable value that exceeds $1 620 000 | | 7. | 2 700 000 | | $36 330 and 3⋅5% of the taxable value that exceeds $2 700 000 |

Clause 5 of Schedule 3 has transitional provisions capping certain land tax increases in 2006.

Sch. 1 cl. 1.2 (Heading) amended by No. 22/2007 s. 7(1)(b).

Sch. 1 cl. 1.2 substituted by No. 38/2006 s. 8(1), amended by No. 22/2007 s. 7(1)(c).

1.2 Land tax for 2007

The rate of land tax for 2007 is set out in Table 1.2.

Sch. 1 cl. 1.2 (Table 1.2) amended by No. 22/2007 s. 7(1)(d).

Table 1.2

| Item | Column 1 Taxable value not less than | Column 2 Taxable value less than | Column 3 Rate of land tax | | 4. | 900 000 | 1 190 000 | $2680 and 0⋅8% of the taxable value that exceeds $900 000 | | 5. | 1 190 000 | 1 620 000 | $5000 and 1⋅2% of the taxable value that exceeds $1 190 000 | | 6. | 1 620 000 | 2 700 000 | $10 160 and 1⋅8% of the taxable value that exceeds $1 620 000 | | 7. | 2 700 000 | | $29 600 and 3% of the taxable value that exceeds $2 700 000 |

Sch. 1 cl. 1.3 (Heading) amended by No. 31/2008 s. 19(1)(a).

Sch. 1 cl. 1.3 repealed by No. 38/2006 s. 8(2), new Sch. 1 cl. 1.3 inserted by No. 22/2007 s. 7(2), amended by No. 31/2008 s. 19(1)(b).

1.3 Land tax for 2008

The rate of land tax for 2008 is set out in Table 1.3.