Part 3Surcharge rates of land tax for trusts

Part 3—Surcharge rates of land tax for trusts Sch. 1 cl. 3.1 inserted by No. 85/2005 s. 30. 3.1 Land tax for trusts for 2006 The rate of land tax for 2006 for land held by an owner subject to a trust is set out in Table 3.1. **Table 3.1** | *Item* | *Column 1* | *Column 2* | *Column 3* | | 1. | 0 | 20 000 | Nil | | 2. | 20 000 | 200 000 | $75 and 0⋅375% of the taxable value that exceeds $20 000 | | 3. | 200 000 | 540 000 | $750 and 0⋅575% of the taxable value that exceeds $200 000 | | 4. | 540 000 | 900 000 | $2705 and 0⋅875% of the taxable value that exceeds $540 000 | | 5. | 900 000 | 1 190 000 | $5855 and 1⋅375% of the taxable value that exceeds $900 000 | | 6. | 1 190 000 | 1 620 000 | $9843 and 1⋅875% of the taxable value that exceeds $1 190 000 | | 7. | 1 620 000 | 2 700 000 | $17 905 and 1⋅706% of the taxable value that exceeds $1 620 000 | | 8. | 2 700 000 | | $36 330 and 3⋅5% of the taxable value that exceeds $2 700 000 | Sch. 1 cl. 3.2 (Heading) amended by No. 22/2007 s. 7(5)(a). Sch. 1 cl. 3.2 inserted by No. 85/2005 s. 30, substituted by No. 38/2006 s. 8(4), amended by No. 22/2007 s. 7(5)(b). 3.2 Land tax for trusts for 2007 The rate of land tax for 2007 for land held by an owner subject to a trust is set out in Table 3.2. **Table 3.2** | *Item* | *Column 1* | *Column 2* | *Column 3* | | 1. | 0 | 20 000 | Nil | | 2. | 20 000 | 200 000 | $75 and 0⋅375% of the taxable value that exceeds $20 000 | | 3. | 200 000 | 540 000 | $750 and 0⋅575% of the taxable value that exceeds $200 000 | | 4. | 540 000 | 900 000 | $2705 and 0⋅875% of the taxable value that exceeds $540 000 | | 5. | 900 000 | 1 190 000 | $5855 and 1⋅175% of the taxable value that exceeds $900 000 | | 6. | 1 190 000 | 1 620 000 | $9263 and 1⋅575% of the taxable value that exceeds $1 190 000 | | 7. | 1 620 000 | 2 700 000 | $16 035 and 1⋅256% of the taxable value that exceeds $1 620 000 | | 8. | 2 700 000 | | $29 600 and 3% of the taxable value that exceeds $2 700 000 | Sch. 1 cl. 3.3 (Heading) amended by No. 31/2008 s. 19(5)(a). Sch. 1 cl. 3.3 inserted by No. 85/2005 s. 30, repealed by No. 38/2006 s. 8(5), new Sch. 1 cl. 3.3 inserted by No. 22/2007 s. 7(6), amended by No. 31/2008 s. 19(5)(b). 3.3 Land tax for trusts for 2008 The rate of land tax for 2008 for land held by an owner subject to a trust is set out in Table 3.3. **Table 3.3** | *Item* | *Column 1 Taxable value not less than* | *Column 2 Taxable value less than* | *Column 3 Rate of land tax* | | 1 | 0 | 20 000 | Nil | | 2 | 20 000 | 225 000 | $75 and 0⋅375% of the taxable value that exceeds $20 000 | | 3 | 225 000 | 540 000 | $844 and 0⋅575% of the taxable value that exceeds $225 000 | | 4 | 540 000 | 900 000 | $2655 and 0⋅875% of the taxable value that exceeds $540 000 | | 5 | 900 000 | 1 620 000 | $5805 and 1⋅175% of the taxable value that exceeds $900 000 | | 6 | 1 620 000 | 2 700 000 | $14 265 and 0⋅76% of the taxable value that exceeds $1 620 000 | | 7 | 2 700 000 | | $22 480 and 2⋅5% of the taxable value that exceeds $2 700 000 | Sch. 1 cl. 3.4 (Heading) amended by No. 22/2021 s. 32(1). Sch. 1 cl. 3.4 inserted by No. 31/2008 s. 19(6), amended by No. 22/2021 s. 32(2). 3.4 Land tax for trusts for 2009 to 2021 The rate of land tax for each of the years from 2009 to 2021 for land held by an owner subject to a trust is set out in Table 3.4. **Table 3.4** | *Item* | *Column 1 Taxable value not less than* | *Column 2 Taxable value less than* | *Column 3 Rate of land tax* | | 2 | 25 000 | 250 000 | $82 and 0⋅375% of the taxable value that exceeds $25 000 | | 3 | 250 000 | 600 000 | $926 and 0⋅575% of the taxable value that exceeds $250 000 | | 4 | 600 000 | 1 000 000 | $2938 and 0⋅875% of the taxable value that exceeds $600 000 | | 5 | 1 000 000 | 1 800 000 | $6438 and 1⋅175% of the taxable value that exceeds $1 000 000 | | 6 | 1 800 000 | 3 000 000 | $15 838 and 0⋅7614% of the taxable value that exceeds $1 800 000 | | 7 | 3 000 000 | | $24 975 and 2⋅25% of the taxable value that exceeds $3 000 000 | Sch. 1 cl. 3.5 (Heading) amended by No. 18/2023 s. 36(1). Sch. 1 cl. 3.5 inserted by No. 22/2021 s. 33, amended by No. 18/2023 s. 36(2). 3.5 Land tax for trusts for 2022, 2023 and 2034 and subsequent years The rate of land tax for 2022, 2023 and 2034 and each subsequent year for land held by an owner subject to a trust is set out in Table 3.5. **Table 3.5** | *Item* | *Column 1 Taxable value not less than* | *Column 2 Taxable value less than* | *Column 3 Rate of land tax* | | 2 | 25 000 | 250 000 | $82 and 0⋅375% of the taxable value that exceeds $25 000 | | 3 | 250 000 | 600 000 | $926 and 0⋅575% of the taxable value that exceeds $250 000 | | 4 | 600 000 | 1 000 000 | $2938 and 0⋅875% of the taxable value that exceeds $600 000 | | 5 | 1 000 000 | 1 800 000 | $6438 and 1⋅175% of the taxable value that exceeds $1 000 000 | | 6 | 1 800 000 | 3 000 000 | $15 838 and 1⋅0114% of the taxable value that exceeds $1 800 000 | | 7 | 3 000 000 | | $27 975 and 2⋅55% of the taxable value that exceeds $3 000 000 | Sch. 1 cl. 3.6 inserted by No. 18/2023 s. 37. 3.6 Land tax for trusts for 2024 to 2033 The rate of land tax for each of the years from 2024 to 2033 for land held by an owner subject to a trust is set out in Table 3.6. **Table 3.6** | *Item* | *Column 1 Taxable value not less than* | *Column 2 Taxable value less than* | *Column 3 Rate of land tax* | | 2 | 25 000 | 50 000 | $82 and 0⋅375% of the taxable value that exceeds $25 000 | | 3 | 50 000 | 100 000 | $676 and 0⋅375% of the taxable value that exceeds $50 000 | | 4 | 100 000 | 250 000 | $1338 and 0⋅375% of the taxable value that exceeds $100 000 | | 5 | 250 000 | 600 000 | $1901 and 0⋅675% of the taxable value that exceeds $250 000 | | 6 | 600 000 | 1 000 000 | $4263 and 0⋅975% of the taxable value that exceeds $600 000 | | 7 | 1 000 000 | 1 800 000 | $8163 and 1⋅275% of the taxable value that exceeds $1 000 000 | | 8 | 1 800 000 | 3 000 000 | $18 363 and 1⋅1072% of the taxable value that exceeds $1 800 000 | | 9 | 3 000 000 | | $31 650 and 2⋅65% of the taxable value that exceeds $3 000 000 | Sch. 1 cl. 3.7 inserted by No. 38/2023 s. 43. 3.7 Rate of land tax for land assessed under certain sections for 2024 to 2033 Despite anything to the contrary in this Schedule, the rate of land tax assessed under the following sections for each of the years from 2024 to 2033 is the rate set out in Table 3.5— (a) section 37(3), if the owner of land would otherwise be subject to land tax at the rate set out in Table 3.6; (b) section 46A(1), if there is a nomination under section 46H in force; (c) section 46G(3)(b), if there is a nomination under section 46H in force; (d) section 46G(4) for the variable **R2**, if there is a nomination under section 46H in force; (e) section 46IF(2A)(b). Sch. 1 Pt 4 (Heading and cl. 4.1) inserted by No. 26/2015 s. 38. Part 4—General absentee owner surcharge rates of land tax Sch. 1 cl. 4.1 (Heading) amended by No. 40/2016 s. 27(1). Sch. 1 cl. 4.1 amended by No. 40/2016 s. 27(2). 4.1 Rate of land tax on land held by absentee owners for 2016 The rate of land tax on land held by an absentee owner for 2016 is set out in Table 4.1. **Table 4.1** | *Item* | *Column 1 Taxable value not less than* | *Column 2 Taxable value less than* | *Column 3 Rate of land tax* | | 2 | 250 000 | 600 000 | $1525 and 0⋅7% of the taxable value that exceeds $250 000 | | 3 | 600 000 | 1 000 000 | $3975 and 1⋅0% of the taxable value that exceeds $600 000 | | 4 | 1 000 000 | 1 800 000 | $7975 and 1⋅3% of the taxable value that exceeds $1 000 000 | | 5 | 1 800 000 | 3 000 000 | $18 375 and 1⋅8% of the taxable value that exceeds $1 800 000 | | 6 | 3 000 000 | | $39 975 and 2⋅75% of the taxable value that exceeds $3 000 000 | Sch. 1 cl. 4.2 (Heading) amended by No. 17/2019 s. 43(1). Sch. 1 cl. 4.2 inserted by No. 40/2016 s. 28, amended by No. 17/2019 s. 43(2). 4.2 Rate of land tax on land held by absentee owners for 2017, 2018 and 2019 The rate of land tax on land held by an absentee owner for 2017, 2018 and 2019 is set out in Table 4.2. **Table 4.2** | *Item* | *Column 1 Taxable value not less than* | *Column 2 Taxable value less than* | *Column 3 Rate of land tax* | | 2 | 250 000 | 600 000 | $4025 and 1⋅7% of the taxable value that exceeds $250 000 | | 3 | 600 000 | 1 000 000 | $9975 and 2% of the taxable value that exceeds $600 000 | | 4 | 1 000 000 | 1 800 000 | $17 975 and 2⋅3% of the taxable value that exceeds $1 000 000 | | 5 | 1 800 000 | 3 000 000 | $36 375 and 2⋅8% of the taxable value that exceeds $1 800 000 | | 6 | 3 000 000 | | $69 975 and 3⋅75% of the taxable value that exceeds $3 000 000 | Sch. 1 cl. 4.3 (Heading) amended by No. 22/2021 s. 34(1). Sch. 1 cl. 4.3 inserted by No. 17/2019 s. 44, amended by No. 22/2021 s. 34(2). 4.3 Rate of land tax on land held by absentee owners for 2020 and 2021 The rate of land tax on land held by an absentee owner for 2020 and 2021 is set out in Table 4.3. **Table 4.3** | *Item* | *Column 1*<br>*Taxable value not less than* | *Column 2*<br>*Taxable value less than* | *Column 3*<br>*Rate of land tax* | | 2 | 250 000 | 600 000 | $5275 and 2⋅2% of the taxable value that exceeds $250 000 | | 3 | 600 000 | 1 000 000 | $12 975 and 2⋅5% of the taxable value that exceeds $600 000 | | 4 | 1 000 000 | 1 800 000 | $22 975 and 2⋅8% of the taxable value that exceeds $1 000 000 | | 5 | 1 800 000 | 3 000 000 | $45 375 and 3⋅3% of the taxable value that exceeds $1 800 000 | | 6 | 3 000 000 | | $84 975 and 4⋅25% of the taxable value that exceeds $3 000 000 | Sch. 1 cl. 4.4 (Heading) amended by No. 18/2023 s. 38(1). Sch. 1 cl. 4.4 inserted by No. 22/2021 s. 35, amended by No. 18/2023 s. 38(2). 4.4 Rate of land tax on land held by absentee owners for 2022 and 2023 The rate of land tax on land held by an absentee owner for 2022 and 2023 is set out in Table 4.4. **Table 4.4** | *Item* | *Column 1*<br>*Taxable value not less than* | *Column 2*<br>*Taxable value less than* | *Column 3*<br>*Rate of land tax* | | 1 | 0 | 300 000 | Nil | | 2 | 300 000 | 600 000 | $6375 and 2⋅2% of the taxable value that exceeds $300 000 | | 3 | 600 000 | 1 000 000 | $12 975 and 2⋅5% of the taxable value that exceeds $600 000 | | 4 | 1 000 000 | 1 800 000 | $22 975 and 2⋅8% of the taxable value that exceeds $1 000 000 | | 5 | 1 800 000 | 3 000 000 | $45 375 and 3⋅55% of the taxable value that exceeds $1 800 000 | | 6 | 3 000 000 | | $87 975 and 4⋅55% of the taxable value that exceeds $3 000 000 | Sch. 1 cl. 4.5 inserted by No. 18/2023 s. 39. 4.5 Rate of land tax on land held by absentee owners for 2024 to 2033 The rate of land tax on land held by an absentee owner for each of the years from 2024 to 2033 is set out in Table 4.5. **Table 4.5** | *Item* | *Column 1*<br>*Taxable value not less than* | *Column 2*<br>*Taxable value less than* | *Column 3*<br>*Rate of land tax* | | 2 | 50 000 | 100 000 | $2500 and 4% of the taxable value that exceeds $50 000 | | 3 | 100 000 | 300 000 | $4975 and 4% of the taxable value that exceeds $100 000 | | 4 | 300 000 | 600 000 | $13 350 and 4⋅3% of the taxable value that exceeds $300 000 | | 5 | 600 000 | 1 000 000 | $26 250 and 4⋅6% of the taxable value that exceeds $600 000 | | 6 | 1 000 000 | 1 800 000 | $44 650 and 4⋅9% of the taxable value that exceeds $1 000 000 | | 7 | 1 800 000 | 3 000 000 | $83 850 and 5⋅65% of the taxable value that exceeds $1 800 000 | | 8 | 3 000 000 | | $151 650 and 6⋅65% of the taxable value that exceeds $3 000 000 | Sch. 1 cl. 4.6 inserted by No. 18/2023 s. 39. 4.6 Rate of land tax on land held by absentee owners for 2034 and subsequent years The rate of land tax on land held by an absentee owner for 2034 and each subsequent year is set out in Table 4.6. **Table 4.6** | *Item* | *Column 1*<br>*Taxable value not less than* | *Column 2*<br>*Taxable value less than* | *Column 3*<br>*Rate of land tax* | | 2 | 50 000 | 300 000 | $2 000 and 4% of the taxable value that exceeds $50 000 | | 3 | 300 000 | 600 000 | $12 375 and 4⋅2% of the taxable value that exceeds $300 000 | | 4 | 600 000 | 1 000 000 | $24 975 and 4⋅5% of the taxable value that exceeds $600 000 | | 5 | 1 000 000 | 1 800 000 | $42 975 and 4⋅8% of the taxable value that exceeds $1 000 000 | | 6 | 1 800 000 | 3 000 000 | $81 375 and 5⋅55% of the taxable value that exceeds $1 800 000 | | 7 | 3 000 000 | | $147 975 and 6⋅55% of the taxable value that exceeds $3 000 000 | Sch. 1 cl. 4.7 inserted by No. 38/2023 s. 44. 4.7 Rate of land tax for land assessed under certain sections for 2024 to 2033 Despite anything to the contrary in this Schedule, the rate of land tax assessed under the following sections for each of the years from 2024 to 2033 is the rate set out in Table 4.6— (a) section 37(3), if the owner of land would otherwise be subject to land tax at the rate set out in Table 4.5; (b) section 46IF(2)(a); (c) section 46IE(3)(a), if there is a nomination under section 46H in force; (d) section 46IE(4) for the variable R1, if there is a nomination under section 46H in force. Sch. 1 Pt 5 (Heading and cl. 5.1) inserted by No. 26/2015 s. 38.