70NNotification requirement if land ceases to be eligible for BTR benefits

70N Notification requirement if land ceases to be eligible for BTR benefits (1) The owner of land must give written notice to the Commissioner if— (a) a BTR benefit has been applied to the land; and (b) there is a change in circumstances that results in the land or part of the land no longer being eligible for the BTR benefits. (2) Notice must be given under subsection (1) within 30 days of the change of circumstances. (3) For the purposes of subsection (1), land or a part of land is no longer used and occupied solely for an eligible BTR development if any of the following occur— (a) there are one or more self-contained dwellings on the land or part of land that no longer satisfy the requirements in section 70B(1)(a) to (e); (b) the BTR development no longer consists of at least 50 self-contained dwellings that satisfy the requirements in section 70B(1)(a) to (e). (4) Failure to notify the Commissioner in accordance with subsection (1) is a notification default. S. 70NA inserted by No. 24/2025 s. 17. 70NA Commissioner may determine that land is eligible for BTR benefits in certain circumstances The Commissioner may determine that land is eligible for a BTR benefit despite any period for which a dwelling in a BTR development on the land no longer satisfies a requirement in section 70B(1)(d) or (e) if— (a) a BTR benefit applied to the land in the tax year preceding that period; and (b) the dwelling is temporarily unsuitable for occupancy for that period; and A dwelling may be temporarily unsuitable for occupancy because it is undergoing a brief refurbishment or because it has been damaged by a fire. (c) the Commissioner considers that it is reasonable in the circumstances to disregard the dwelling not satisfying the requirement for that period. S. 70O inserted by No. 52/2021 s. 59.