• Skip to content
  • Skip to navigation
Revenue NSW logo
  • About us
  • Help centre
  • News
  • Login
  • Contact us
  • Home
  • Taxes, duties, levies and royalties Expand this menu
    Return to previous menu Taxes, duties, levies and royalties
    • Make a payment
    • Payroll tax
    • Land tax
    • Transfer duty
    • More options
  • Fines and fees Expand this menu
    Return to previous menu Fines and fees
    • Pay your fine
    • Request a review
    • Nominate someone else
    • Overdue fines and fees
    • More options
  • Grants and schemes Expand this menu
    Return to previous menu Grants and schemes
    • First home owner grant
    • First home buyer assistance
    • HomeBuilder
    • Previous schemes
    • More options
  • Unclaimed money Expand this menu
    Return to previous menu Unclaimed money
    • Search for unclaimed money
    • Make a claim
    • Lodge unclaimed money
    • More options
  • About us
  • Help centre
  • News
  • Login
  • Contact us
alert icon

Read more about HomeBuilder and other relief measures to help customers impacted by COVID-19.

Help centre
  • About

    Find our top tasks, calculators and publications

  • Make a payment

    Quickly pay your liability or fine

  • Online services

    Register, manage and pay, and check service availability

  • Calculators

    Calculate your liability or grant amount

  • Resources

    Search our publications, forms, rulings and documents

  • Legislation and rulings

    Clarification and examples to help you comply

  • Seminars and webinars

    Download information packs and register for upcoming events

  • Contact us

    Our details if you need to reach us

  • Home
  • Help centre
  • Resources
  • LT048
Listen

Unutilised value allowances and postponement of tax

(Sections 9A and 621-62N - Land Tax Management Act 1956)

Ruling number LT 048
Date issued 27 April 1994
Issued by B Buchanan
for Chief Commissioner of Land Tax
Effective from 27 April 1994
Effective to -
Status Current

Preamble

  1. Where land that is used solely as the site of a single dwelling-house is situated in a commercial, industrial or business zone, the owner is entitled to claim a postponement of part of the land tax payable. The postponement is based on an allowance called the unutilised value allowance. This allowance is a calculation of the difference between the land value and the value that would be determined if the land was situated in a residential zone.
  2. Up to the 1992 tax year, allowances were calculated using land values determined for all rating and taxing authorities. From the 1993 tax year, unutilised value allowances are calculated using land values determined exclusively for land tax purposes but the method of calculating the allowance is unchanged.
  3. The purpose of this Ruling is to introduce an application form to be used by owners who did not receive the concession for the 1992 tax year (and who wish to claim the concession for the 1993 or later tax year) and to explain the conditions that must be met.

Ruling

  1. Owners must apply for a postponement of part of the land tax payable and for the determination of an unutilised value allowance by completing Form 62(l).
  2. Land that is used solely as the site of a single dwelling-house which is situated in a commercial, industrial or business zone or is land affected by a zoning which allows the building of residential flats or subdivision is entitled to have an unutilised value allowance determined.
  3. The unutilised value allowance will be used to assess the amount of land tax to be postponed having regard to Section 9A of the Land Tax Management Act 1956.
  4. Application Form 62(l) is attached to this Ruling and is in the form of a statutory declaration. The completed application should be posted to the Chief Commissioner at the following address:

    Office of State Revenue
    Revenue Advisory Services
    Post Bag 5215
    Parramatta NSW 2124

    but may also be lodged at any branch of the Office of State Revenue, from where additional copies of the form can also be obtained.
  • Previous
    LT042 (superseded)
  • Back to top
  • Next
    LT071 (superseded)
    • Facebook
    • Twitter
    • LinkedIn
    • Email
  • Download or print PDF
  • Taxes, duties, levies and royalties
  • Fines and fees
  • Grants and schemes
  • Unclaimed money
  • Terms
  • Privacy
  • Accessibility
  • Sitemap
  • nsw.gov.au
  • Twitter
  • YouTube
  • LinkedIn