50Grouping of related corporations

50 Grouping of related corporations S. 50(1) amended by No. 28/2017 s. 61(1). (1) Subject to subsection (3), the Commissioner may treat related corporations as a single corporation for the purposes of this Act. (2) If the Commissioner does so— S. 50(2)(a) amended by No. 28/2017 s. 61(2). (a) the Commissioner must assess the related corporations jointly for land tax (other than vacant residential land tax); and S. 50(2)(b) amended by No. 28/2017 s. 61(2). (b) the related corporations are jointly and severally liable for the land tax (other than vacant residential land tax); and (c) section 46 of the **Taxation Administration Act 1997** applies accordingly. S. 50(3) inserted by No. 28/2017 s. 61(3). (3) The Commissioner must not treat related corporations as a single corporation for the purposes of assessing vacant residential land tax. Pt 3 Div. 3A (Heading and s. 50A) inserted by No. 26/2015 s. 35.