sec.27Calculation of home unit company’s liability

sec.27 Calculation of home unit company’s liability

The amount of a home unit company’s liability for land tax for a financial year is the amount calculated as follows— where— a is the amount of land tax that would be payable by the company if— section 32 applied; and the average unit value was the taxable value of the taxable land owned by the company. b is the number of units, other than home units, forming part of a building located on taxable land owned by the company. For this section, average unit value means the amount calculated as follows— where— t is the taxable value of the taxable land owned by the home unit company. u is the number of units forming part of a building located on the land. This section applies despite sections 6 (2) and 32 . (sec.27-ssec.1) The amount of a home unit company’s liability for land tax for a financial year is the amount calculated as follows— where— a is the amount of land tax that would be payable by the company if— section 32 applied; and the average unit value was the taxable value of the taxable land owned by the company. b is the number of units, other than home units, forming part of a building located on taxable land owned by the company. (sec.27-ssec.2) For this section, average unit value means the amount calculated as follows— where— t is the taxable value of the taxable land owned by the home unit company. u is the number of units forming part of a building located on the land. (sec.27-ssec.3) This section applies despite sections 6 (2) and 32 .

• (a) section 32 applied; and
• (b) the average unit value was the taxable value of the taxable land owned by the company.