Western Australian Consolidated Acts

LAND TAX ASSESSMENT ACT 2002 - SECT 26

26 .         Residence of disabled person held in trust, exemption for

        (1)         Private residential property held in trust is exempt for an assessment year if, at midnight on 30 June in the financial year before the assessment year —

            (a)         the land is owned by a trustee who holds the land in trust for one or more disabled beneficiaries; and

            (b)         at least one disabled beneficiary of the trust uses the property as his or her primary residence.

        (2)         If —

            (a)         land was exempt under this section on 30 June in the financial year before the year referred to in paragraph (b); and

            (b)         on 30 June in the financial year before the assessment year —

                  (i)         the trustee does not hold the land in trust for one or more disabled beneficiaries; or

                  (ii)         there is not at least one disabled beneficiary using the property as his or her primary residence,

                the trustee must notify the Commissioner to that effect within 3 months after 30 June in the financial year before the assessment year.

        Penalty: $5 000.

        [Section 26 amended by No. 31 of 2006 s. 28.]