Queensland Consolidated Acts Queensland Consolidated Acts(1) If a time-sharing scheme is or has been implemented in respect of all lots included in a community titles scheme the person for the time being having the management of the time-sharing scheme is taken to be the owner of the scheme land for the community titles scheme and is liable for land tax accordingly.
(2) If a time-sharing scheme is or has been implemented in respect of some but not all lots included in a community titles scheme, the lots in respect of which the time-sharing scheme is implemented are together taken to form 1 lot with an interest schedule lot entitlement equal to the aggregate of the interest schedule lot entitlements of those lots, and the person for the time being having the management of the time-sharing scheme is taken to be the owner of that lot and is liable for land tax accordingly.
(3) For levying land tax on land contained in scheme land or a lot to which this section applies, the person taken to be the owner of the scheme land or lot is taken not to own any other land in Queensland.
(4) If a person pays land tax because the person is taken to be the owner--
(a) of scheme land under subsection (1)--the owner of each lot included in the community titles scheme is indebted to that person for an amount that bears to the amount of land tax paid the same proportion as the interest schedule lot entitlement of the lot bears to the aggregate interest schedule lot entitlements of all lots included in the community titles scheme; or
(b) of a lot under subsection (2)--the owner of each lot in respect of which the time-sharing scheme was implemented is indebted to that person for an amount that bears to the amount of land tax paid the same proportion as the interest schedule lot entitlement of the lot bears to the aggregate interest schedule lot entitlement of the lots in respect of which the time-sharing scheme was implemented.
(5) Neither section 11(3) nor 11(6A) applies to land taken to be owned by a person under this section.
(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.