Australian Capital Territory Numbered Acts

LAND TAX AMENDMENT ACT 2011 (NO. 33 OF 2011) - SECT 14A

    (1)     This section applies in relation to a parcel of residential land that is owned by an individual as trustee.

    (2)     The individual must tell the commissioner, in writing—

        (a)     that the individual owns the parcel as trustee; and

        (b)     when the ownership as trustee began.

Note 1     If a form is approved under the Taxation Administration Act 1999 , s 139C, the form must be used.

Note 2     It is an offence to fail to notify the commissioner under this section (see Taxation Administration Act 1999 , s 67 (2)).

Note 3     It is also an offence to knowingly avoid paying, or disclosing a liability to pay, part or all of an amount of tax (see Taxation Administration Act 1999 , s 65 (1)).    

    (3)     The individual must tell the commissioner the information mentioned in subsection (2) not later than 30 days after—

        (a)     if there is a change of ownership of the parcel—the day the ownership changes; or

        (b)     in any other case—the day the ownership as trustee begins.