BUILDING A BETTER VICTORIA (STATE TAX AND OTHER LEGISLATION AMENDMENT) ACT 2014 (NO. 40 OF 2014) - SECT 17 Land tax for unit trust scheme if unitholdings notified to Commissioner

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BUILDING A BETTER VICTORIA (STATE TAX AND OTHER LEGISLATION AMENDMENT) ACT 2014 (NO. 40 OF 2014) - SECT 17

Land tax for unit trust scheme if unitholdings notified to Commissioner

For section 46C(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notice takes effect for the tax year following the year in which the notice is lodged and remains in force until it is withdrawn by the trustee.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 unit trust scheme, the trustee cannot lodge another notice under this section in respect of that unit trust scheme.".

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