sec.58VReassessment—land not used for eligible BTR development

sec.58V Reassessment—land not used for eligible BTR development

This section applies if— a taxpayer’s liability for land tax for a financial year is assessed on the basis that land is land used for an eligible BTR development for the financial year; and the commissioner is satisfied that the land is not land used for an eligible BTR development for the financial year, including, for example, because of a reassessment made under this division for a previous financial year. See section 58C for when land is land used for an eligible BTR development for a financial year. The commissioner must make a reassessment of the taxpayer’s liability for land tax for the financial year on the basis that the land is not land used for an eligible BTR development for the financial year. This section does not limit the commissioner’s power to make a reassessment of the taxpayer’s liability for land tax for the financial year on the basis of a deliberate tax default under the Administration Act , section 22 (2) (a) . s 58V ins 2023 No. 18 s 12 (sec.58V-ssec.1) This section applies if— a taxpayer’s liability for land tax for a financial year is assessed on the basis that land is land used for an eligible BTR development for the financial year; and the commissioner is satisfied that the land is not land used for an eligible BTR development for the financial year, including, for example, because of a reassessment made under this division for a previous financial year. See section 58C for when land is land used for an eligible BTR development for a financial year. (sec.58V-ssec.2) The commissioner must make a reassessment of the taxpayer’s liability for land tax for the financial year on the basis that the land is not land used for an eligible BTR development for the financial year. (sec.58V-ssec.3) This section does not limit the commissioner’s power to make a reassessment of the taxpayer’s liability for land tax for the financial year on the basis of a deliberate tax default under the Administration Act , section 22 (2) (a) .

• (a) a taxpayer’s liability for land tax for a financial year is assessed on the basis that land is land used for an eligible BTR development for the financial year; and
• (b) the commissioner is satisfied that the land is not land used for an eligible BTR development for the financial year, including, for example, because of a reassessment made under this division for a previous financial year. Note— See section 58C for when land is land used for an eligible BTR development for a financial year.