Land Tax Act 2010
sec.32Rate of land tax generally
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sec.32 Rate of land tax generally
Land tax is imposed on the total taxable value of the taxable land owned by a taxpayer at the following rate— for an individual other than an absentee or trustee—the rate provided for under schedule 1 ; for a company or trustee— the general rate provided for under schedule 2 , part 1 ; and if the company or trustee is a foreign company or a trustee of a foreign trust—the surcharge rate provided for under schedule 2 , part 2 ; for an absentee— the general rate provided for under schedule 3 , part 1 ; and the surcharge rate provided for under schedule 3 , part 2 . This section applies subject to sections 20 and 21 . See, however, section 58B , about concessions for eligible BTR developments. s 32 amd 2017 No. 20 s 24 ; 2019 No. 20 s 17 ; 2023 No. 18 s 11 (sec.32-ssec.1) Land tax is imposed on the total taxable value of the taxable land owned by a taxpayer at the following rate— for an individual other than an absentee or trustee—the rate provided for under schedule 1 ; for a company or trustee— the general rate provided for under schedule 2 , part 1 ; and if the company or trustee is a foreign company or a trustee of a foreign trust—the surcharge rate provided for under schedule 2 , part 2 ; for an absentee— the general rate provided for under schedule 3 , part 1 ; and the surcharge rate provided for under schedule 3 , part 2 . (sec.32-ssec.2) This section applies subject to sections 20 and 21 .
- (a) for an individual other than an absentee or trustee—the rate provided for under schedule 1 ;
- (b) for a company or trustee— (i) the general rate provided for under schedule 2 , part 1 ; and (ii) if the company or trustee is a foreign company or a trustee of a foreign trust—the surcharge rate provided for under schedule 2 , part 2 ;
- (i) the general rate provided for under schedule 2 , part 1 ; and
- (ii) if the company or trustee is a foreign company or a trustee of a foreign trust—the surcharge rate provided for under schedule 2 , part 2 ;
- (c) for an absentee— (i) the general rate provided for under schedule 3 , part 1 ; and (ii) the surcharge rate provided for under schedule 3 , part 2 .
- (i) the general rate provided for under schedule 3 , part 1 ; and
- (ii) the surcharge rate provided for under schedule 3 , part 2 .
- (i) the general rate provided for under schedule 2 , part 1 ; and
- (ii) if the company or trustee is a foreign company or a trustee of a foreign trust—the surcharge rate provided for under schedule 2 , part 2 ;
- (i) the general rate provided for under schedule 3 , part 1 ; and
- (ii) the surcharge rate provided for under schedule 3 , part 2 .