60Meaning of liability for rates for div 7.3

60 Meaning of liability for rates for div 7.3 (1) A reference in this division to an eligible person’s liability for rates for a parcel of land for a year is— (a) for a person who is the sole owner of the parcel—a reference to the amount of rates payable by the person for the parcel for the year; and (b) for a person who is a joint owner of the parcel—a reference to the part of the rates payable by the owners for the parcel for the year— (i) if the parcel is held by the owners as tenants in common— that is proportional to the person’s interest in the land; and (ii) if the parcel is held by the owners as joint tenants—that would be proportional to the person’s interest in the land if the joint tenants were tenants in common in equal shares. (2) However, if an eligible person is a joint owner of a parcel of land and 1 or more of the other joint owners cannot reasonably contribute to the payment of rates for the parcel for the year, a reference in this division to the person’s liability for rates for the parcel for the year is taken to be— (a) if no other joint owner can reasonably contribute to the payment of the rates—a reference to the rates payable for the land; or (b) if the rates are to be paid by 2 or more of the joint owners—a reference to so much of the rates payable by the person for the parcel as would be payable if the joint owners paying the rates— (i) were the sole owners of the land as tenants in common in equal shares; and (ii) the value of their interests in the land were increased proportionately.

(3) A reference in subsection (2) to rates payable is a reference to rates payable apart from this division.