BUILDING A BETTER VICTORIA (STATE TAX AND OTHER LEGISLATION AMENDMENT) ACT 2014 (NO. 40 OF 2014) - SECT 16 Land tax for fixed trust if beneficial interests notified to Commissioner

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BUILDING A BETTER VICTORIA (STATE TAX AND OTHER LEGISLATION AMENDMENT) ACT 2014 (NO. 40 OF 2014) - SECT 16

Land tax for fixed trust if beneficial interests notified to Commissioner

For section 46B(2) and (3) of the Land Tax Act 2005 substitute —

"(2) A notice must be in the form, and contain the information, determined by the Commissioner.

(3) A notice takes effect for the tax year following the year in which the notice is lodged and remains in force until it is withdrawn by the trustee.

(3A) Despite subsection (1), if a trustee withdraws a notice that is in force under this section in respect of a fixed trust, the trustee cannot lodge another notice under this section in respect of that fixed trust.".

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