sec.58TApplication for ruling about concession

sec.58T Application for ruling about concession

This section applies if a person who owns land, or proposes to acquire land, proposes to use the land for an eligible BTR development, whether by constructing or substantially renovating 1 or more buildings on the land. The person may apply to the commissioner for a ruling on whether, if the proposed development is carried out, the person’s liability for land tax for a financial year will be assessed on the basis that a concession under section 58B applies in relation to the land. The application must— be in the approved form; and be supported by enough information to enable the commissioner to make a ruling. The commissioner must give the applicant notice of the commissioner’s ruling on the application. In this section— substantially renovating has the meaning given under section 58D . s 58T ins 2023 No. 18 s 12 (sec.58T-ssec.1) This section applies if a person who owns land, or proposes to acquire land, proposes to use the land for an eligible BTR development, whether by constructing or substantially renovating 1 or more buildings on the land. (sec.58T-ssec.2) The person may apply to the commissioner for a ruling on whether, if the proposed development is carried out, the person’s liability for land tax for a financial year will be assessed on the basis that a concession under section 58B applies in relation to the land. (sec.58T-ssec.3) The application must— be in the approved form; and be supported by enough information to enable the commissioner to make a ruling. (sec.58T-ssec.4) The commissioner must give the applicant notice of the commissioner’s ruling on the application. (sec.58T-ssec.5) In this section— substantially renovating has the meaning given under section 58D .

• (a) be in the approved form; and
• (b) be supported by enough information to enable the commissioner to make a ruling.