Land Tax Regulation 2021 (Qld)

Land Tax Regulation 2021

1 Short title This regulation may be cited as the Land Tax Regulation 2021.

2 Primary production activities— Act , s 53 For section 53(1) of the Act, the following activities are prescribed— (a) maintaining animals for the purpose of selling the animals or their bodily produce, including their natural increase; (b) cultivating land for the purpose of selling produce; (c) propagating or cultivating plants or mushrooms, for the purpose of selling the plants or mushrooms or produce from the plants, whether the plants or mushrooms are grown— (i) in sand, gravel or liquid, without soil and with added nutrients; or (ii) in the ground or in pots, bags or containers; (d) planting or tending trees in a plantation or forest for the purpose of selling the trees or produce from the trees; (e) an activity, other than an activity mentioned in paragraph (a), (b), (c) or (d), that is agriculture, dairy farming or pasturage; (f) an activity that is— (i) directly related to, and carried out to support, an activity mentioned in any of paragraphs (a) to (e); and (ii) carried on for the same business of primary production mentioned in section 53(1) of the Act.

2A Asset limit relating to eligible tenants— Act , s 58Q (1) For section 58Q(1)(c)(i) of the Act, the limit prescribed, for the combined total value of the assets of all members of the person's household and any non-resident spouse of the person, is the value equivalent to 25% of the assets value limit. (2) For subsection (1), the assets value limit is the following assets value limit under the Social Security Act 1991 (Cwlth), section 1064-G3 as indexed or adjusted under that Act— (a) for 1 person—the assets value limit for a person who is not a member of a couple and is not a homeowner; (b) for 2 or more persons—the assets value limit for a partnered person, if neither the person nor their partner is a homeowner, multiplied by 2. Note— The current assets value limits are published in the Social Security Guide on the website of the Department of Social Services (Cwlth). (3) The combined total value of the persons' assets must be worked out at the relevant time. (4) A person's superannuation entitlements must be disregarded for this section if the person can not access the entitlements at the relevant time. (5) In this section— relevant time means immediately before the residential tenancy agreement mentioned in subsection (1) is entered into.