|Ruling number||LT 027|
|Date issued||28 September 1990|
|Issued by||B Buchanan |
Chief Commissioner of Land Tax
|Effective from||31 December 1989|
|Effective to||31 December 2003|
|Status||Replaced by Sch1A Clause 9 of the LTM Act 1956|
Where a deceased person was the owner of land which was used as his/her principal place of residence, Section 10A of the Land Tax Management Act states that land tax is not payable in respect of that land until either:
a period of twelve months after the date of death has elapsed; or
the land vests in the person beneficially entitled to it by virtue of a will, the laws of intestacy or some other document, whichever occurs first.
The Chief Commissioner may extend the twelve month period of grace if the person occupying the land as his/her principal place of residence is likely to be the beneficiary of the land.
There has been some concern as to the meaning of "vests" in the land tax legislation. This Ruling clarifies the meaning of "vests" and hence the vesting date to be used for the purposes of the concession.
For the purpose of determining whether a concession is applicable under Section 10A (2)(b) of the Land Tax Management Act for certain land held in the interim by a deceased person's legal personal representative, the word "vests" will be taken to mean the date on which the transfer document or transmission application is registered at the Land Titles Office.