54Principal place of residence exemption

54 Principal place of residence exemption

(1) Subject to this Division, the following land is exempt land—

S. 54(1)(a) amended by No. 46/2019 s. 29(1).

(a) land owned by a natural person (who is not a person specified in subsection (4A)) that is used and occupied as the principal place of residence of that person;

S. 54(1)(ab) inserted by No. 68/2007 s. 18(1).

(ab) land owned by a person that is used and occupied as the principal place of residence of a natural person who has a right to reside on that land;

S. 54(1)(b) amended by Nos 76/2012 s. 5(1), 18/2023 s. 44(1)(a).

(b) land owned by a trustee of a trust that is used and occupied as the principal place of residence of a vested beneficiary in relation to the land;

S. 54(1)(c) inserted by No. 18/2023 s. 44(1)(b).

(c) land owned by an immediate family member of a person with a disability (qualifying) that is used and occupied as the principal place of residence of the person with a disability (qualifying).

S. 54(1A) inserted by No. 68/2007 s. 18(2).

(1A) Despite subsection (1)(ab), land referred to in that subsection is not exempt land unless—

(a) immediately before the natural person who has a right to reside on the land was granted the right, the land was exempt land under section 54(1)(a) or (b); and

(b) that person is not entitled to—

S. 54(1A)(b)(i) amended by No. 76/2012 s. 5(2).

(i) an exemption under this Division in respect of any land; or

S. 54(1A)(b)(ii) amended by No. 76/2012 s. 5(2).

(ii) an exemption from land tax under a law of any other State or Territory that corresponds to this Division.

S. 54(1B) inserted by No. 47/2020 s. 48(1), amended by No. 18/2023 s. 44(2).

(1B) Despite subsection (1)(b) or (c), land referred to in that subsection is not exempt land if rent is paid by or on behalf of the vested beneficiary or person with a disability (qualifying) for use and occupation of the land in the year preceding the tax year.

S. 54(2) amended by Nos 68/2007 s. 18(3), 76/2012 s. 5(3), 47/2020 s. 48(2), 18/2023 s. 44(3).

(2) Subject to sections 55 and 55A, subsection (1)(a), (b) or (c) only applies if the land has been used and occupied as the principal place of residence of the owner, vested beneficiary or person with a disability (qualifying) (as the case requires)—

(a) since 1 July in the year preceding the tax year; or

(b) if the owner or trustee became the owner of the land on or after 1 July in the year preceding the tax year, since a later date during that year.