sec.58SApplication for concession

sec.58S Application for concession

A taxpayer may apply to the commissioner for the taxpayer’s liability for land tax for a financial year to be assessed on the basis that land is land used for an eligible BTR development for the financial year. The application must— be in the approved form; and if the taxpayer’s liability for land tax has not previously been assessed on the basis that the land is land used for an eligible BTR development—be made by the 30 June that is 2 years after the last day of the first financial year for which the land is land used for an eligible BTR development. However, an application need not be made for a financial year if— the taxpayer’s liability for land tax for the previous financial year was assessed on the basis that the land is land used for an eligible BTR development; and the ownership of the land has not changed; and the land continues to be land used for an eligible BTR development for the financial year. Also, an application need not be made for a financial year if— the ownership of the land changed during the previous financial year; and the previous owner’s liability for land tax for the previous financial year was assessed on the basis that the land was land used for an eligible BTR development; and the previous owner has given notice under section 58ZB about the use of the land for the previous financial year before the change of ownership; and since the change of ownership, the land has continued to be used, solely or primarily, for an eligible BTR development. If an application need not be made for a financial year under subsection (3) or (4) , see also the requirement under section 58Z . s 58S ins 2023 No. 18 s 12 (sec.58S-ssec.1) A taxpayer may apply to the commissioner for the taxpayer’s liability for land tax for a financial year to be assessed on the basis that land is land used for an eligible BTR development for the financial year. (sec.58S-ssec.2) The application must— be in the approved form; and if the taxpayer’s liability for land tax has not previously been assessed on the basis that the land is land used for an eligible BTR development—be made by the 30 June that is 2 years after the last day of the first financial year for which the land is land used for an eligible BTR development. (sec.58S-ssec.3) However, an application need not be made for a financial year if— the taxpayer’s liability for land tax for the previous financial year was assessed on the basis that the land is land used for an eligible BTR development; and the ownership of the land has not changed; and the land continues to be land used for an eligible BTR development for the financial year. (sec.58S-ssec.4) Also, an application need not be made for a financial year if— the ownership of the land changed during the previous financial year; and the previous owner’s liability for land tax for the previous financial year was assessed on the basis that the land was land used for an eligible BTR development; and the previous owner has given notice under section 58ZB about the use of the land for the previous financial year before the change of ownership; and since the change of ownership, the land has continued to be used, solely or primarily, for an eligible BTR development. If an application need not be made for a financial year under subsection (3) or (4) , see also the requirement under section 58Z .