Queensland Consolidated Acts Queensland Consolidated Acts(1) For the imposition, assessment or recovery of land tax in relation to scheme land for a community titles scheme, the following provisions apply--
(a) the relevant unimproved value for each lot included in the scheme must be determined on the basis of an apportionment of relevant unimproved value in the way provided for in the Body Corporate and Community Management Act 1997;
Editor's note--
See the Body Corporate and Community Management Act 1997, chapter 4 (Administrative matters), part 1 (Valuation, rating and taxation).
(b) the body corporate for the scheme is not liable for land tax in relation to the scheme land;
(c) subject to any concessions or exemptions which may be applicable, each lot included in the scheme is taken to be a separate parcel of land with a relevant unimproved value calculated under paragraph (a);
(d) if a lot mentioned in paragraph (c) is, under the Land Title Act 1994, a lot on a building format plan of subdivision or volumetric format plan of subdivision, and, if on a volumetric format plan of subdivision, wholly contained within a building--
(i) subsections (2) and (3) apply to the lot instead of sections 11(6A) and 13(1)(h) if the owner holds the lot other than in the capacity of trustee; and
(ii) subsection (4) applies to the lot instead of section 11(6D) if the owner holds the lot in the capacity of trustee;
(e) if a lot mentioned in paragraph (c) is not a lot to which, under paragraph (d), subsections (2) to (4) apply--
(i) sections 11(6A), 11(6D), 13(1)(h) and 13(3) apply to the lot; and
(ii) for applying the provisions mentioned in subparagraph (i), each lot included in the scheme, together with the portion of the common property for the scheme that bears to the whole of the common property the same proportion as the interest schedule lot entitlement for the lot bears to the total of the interest schedule lot entitlements for the scheme is taken to be 1 parcel owned by that owner.
(2) In addition to any deduction allowable under section 11(3), if an owner owns a lot to which, under subsection (1)(d), this subsection applies (otherwise than in the capacity of trustee), taken to be a separate parcel of land under subsection (1)(c), that is used as the owner's principal place of residence but the lot is not exempt under subsection (3), in calculating the taxable value of all land owned by the owner the allowable PPR deduction must be deducted.
(3) A lot to which, under subsection (1)(d), this subsection applies, taken to be a separate parcel of land under subsection (1)(c), is exempt from taxation under this Act if--
(a) the lot is owned by a person other than in the capacity of trustee; and
(b) the lot is used by the person as the person's principal place of residence and is not used for a substantial non-PPR purpose; and
(c) the person owns no other land in Queensland and is not taken under a provision of this Act to own any other land in Queensland.
(4) If a lot to which, under subsection (1)(d), this subsection applies, is taken to be a separate parcel of land under subsection (1)(c) and is owned by a person in the person's capacity as trustee and is used as the principal place of residence of all the beneficiaries of the relevant trust who were beneficiaries of the trust at midnight on 30 June immediately preceding the financial year in and for which the land tax is levied, in calculating the taxable value of all land owned by the person in the person's capacity as trustee the allowable PPR deduction must be deducted.
(5) A trustee of a trust (the first trust) must not be allowed the benefit of a deduction under subsection (4) if--
(a) the trustee of another trust (the other trust) has obtained the benefit of that deduction or the benefit of a deduction under section 11(6D); or
(b) in calculating the amount of land tax payable by a company under section 11C(1) account was taken of a home unit which is used as the principal place of residence of all the beneficiaries of a trust (also the other trust);
and a beneficiary of the first trust bears to a beneficiary of the other trust the relationship of mother, father, sister, brother, spouse, stepmother, stepfather, stepsister or stepbrother unless the commissioner is satisfied that the first trust and the other trust were not established by or on the instructions of the one person.
(6) In this section, the following words have the meanings given by the Body Corporate and Community Management Act 1997--
• body corporate
• community titles scheme
• included in
• interest schedule lot entitlement
• lot
• scheme land.