sec.83Debt owed to manager of time-sharing scheme

sec.83 Debt owed to manager of time-sharing scheme

This section applies if the manager of a time-sharing scheme pays land tax on land that is the subject of the scheme. Each participant in the scheme incurs a debt to the manager in an amount equivalent to the relevant proportion of the land tax paid by the manager. In this section— relevant proportion means— if the land is all or some of the lots included in a community titles scheme—the proportion the interest schedule lot entitlement of the participant’s lot bears to the total interest schedule lot entitlements of all lots included in the time-sharing scheme; or if the land is all or some of the lots comprised in a BUGTA plan—the proportion the lot entitlement of the participant’s lot bears to the total lot entitlements of all lots shown on the plan that are included in the time-sharing scheme; or if the participants in the time-sharing scheme are the registered proprietors of the land—the proportion of the participant’s interest in the land. (sec.83-ssec.1) This section applies if the manager of a time-sharing scheme pays land tax on land that is the subject of the scheme. (sec.83-ssec.2) Each participant in the scheme incurs a debt to the manager in an amount equivalent to the relevant proportion of the land tax paid by the manager. (sec.83-ssec.3) In this section— relevant proportion means— if the land is all or some of the lots included in a community titles scheme—the proportion the interest schedule lot entitlement of the participant’s lot bears to the total interest schedule lot entitlements of all lots included in the time-sharing scheme; or if the land is all or some of the lots comprised in a BUGTA plan—the proportion the lot entitlement of the participant’s lot bears to the total lot entitlements of all lots shown on the plan that are included in the time-sharing scheme; or if the participants in the time-sharing scheme are the registered proprietors of the land—the proportion of the participant’s interest in the land.

• (a) if the land is all or some of the lots included in a community titles scheme—the proportion the interest schedule lot entitlement of the participant’s lot bears to the total interest schedule lot entitlements of all lots included in the time-sharing scheme; or
• (b) if the land is all or some of the lots comprised in a BUGTA plan—the proportion the lot entitlement of the participant’s lot bears to the total lot entitlements of all lots shown on the plan that are included in the time-sharing scheme; or
• (c) if the participants in the time-sharing scheme are the registered proprietors of the land—the proportion of the participant’s interest in the land.