Australian Capital Territory Numbered Acts

RATES AMENDMENT ACT 2015 (NO. 44 OF 2015) - SECT 40E

    (1)     For the purposes of section 40C (2), the growth index is the change in the AUV of relevant commercial land over a calendar year worked out as follows:

"first commercial land AUV", for a particular calendaryear, means the total AUV of all relevant commercial land on 1 January inthe year ending immediately before the particular year.

"relevant commercial land", for a particular calendar year, means all land in the Territory, other than airport land, that was commercial land—

        (a)     on 1 January in the particular year; and

        (b)     for the whole of the year immediately before the particular year.

"second commercial land AUV", for a particular calendar year, means the total AUV of all relevant commercial land on 1 January in the particular year.

Note     Commercial land —see the dictionary.

    (2)     For the purposes of working out the growth index over a calendar year, the commissioner must give Canberra Airport information about the AUV of all relevant commercial land on 1 January in the calendar year, by 30 April in that year.