sec.58WReassessment—requirements for eligible tenant not met

sec.58W Reassessment—requirements for eligible tenant not met

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; and a person occupied a dwelling in the eligible BTR development, at any time during the previous financial year, under a discounted rent housing agreement; and the requirements under section 58Q (1) (a) , (b) or (c) were not met in relation to the person when the discounted rent housing agreement was entered into; and the discounted rent housing requirements under division 3 , subdivision 4 would not have been met for the eligible BTR development for the financial year if the dwelling were not a discounted rent dwelling. The commissioner must make a reassessment of the taxpayer’s liability for land tax for the financial year as if the land were not land used for an eligible BTR development for the financial year. However, the commissioner must not make a reassessment of the taxpayer’s liability for land tax for the financial year under this section if the commissioner is satisfied the taxpayer took all reasonable steps to ensure the requirements under section 58Q (1) (a) , (b) and (c) were met in relation to the person when the discounted rent housing agreement was entered into. s 58W ins 2023 No. 18 s 12 (sec.58W-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; and a person occupied a dwelling in the eligible BTR development, at any time during the previous financial year, under a discounted rent housing agreement; and the requirements under section 58Q (1) (a) , (b) or (c) were not met in relation to the person when the discounted rent housing agreement was entered into; and the discounted rent housing requirements under division 3 , subdivision 4 would not have been met for the eligible BTR development for the financial year if the dwelling were not a discounted rent dwelling. (sec.58W-ssec.2) The commissioner must make a reassessment of the taxpayer’s liability for land tax for the financial year as if the land were not land used for an eligible BTR development for the financial year. (sec.58W-ssec.3) However, the commissioner must not make a reassessment of the taxpayer’s liability for land tax for the financial year under this section if the commissioner is satisfied the taxpayer took all reasonable steps to ensure the requirements under section 58Q (1) (a) , (b) and (c) were met in relation to the person when the discounted rent housing agreement was entered into.

• (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; and
• (b) a person occupied a dwelling in the eligible BTR development, at any time during the previous financial year, under a discounted rent housing agreement; and