Page 313 - Week 01 - Thursday, 10 February 2022
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|
Criteria: |
2018-2019 |
2019-2020 |
2020-2021 |
|
Number of Assessments |
140 |
87 |
190 |
|
Total Liability Amount (incl penalty and Interest) |
$495,317 |
$452,805 |
$1,322,504 |
Question 2.
The following table outlines the volume and percentage amounts of land tax assessments in the requested categories for the respective periods where land tax was assessed within 30 days before a lease transfer date (normal settlement period).
|
2018-19 |
2019-20 |
2021-21 | ||||
|
Criteria |
Number of Assessments |
% of Total Assessments of 140 |
Number of Assessments |
% of Total Assessments of 87 |
Number of Assessments |
% of Total Assessments of 190 |
|
2(a) Penalties levied1 |
34 |
24% |
27 |
31% |
82 |
43% |
|
2(b) Interest charged2 |
46 |
32% |
32 |
37% |
88 |
46% |
|
2(c) Penalties and Interest3 |
31 |
22% |
27 |
31% |
77 |
41% |
|
2(d) No penalties and no interest |
91 |
65% |
55 |
63% |
97 |
51% |
1 Reflects all assessments that contain penalties
2 Reflects all assessments that contain interest
3 This is a sub-set of the assessment figures for penalties levied and interest charged
Question 3
Taxpayers who are liable for land tax are required to inform the ACT Revenue Office using the online notification form available on the ACT Revenue Office website. Taxpayers can then receive land tax notices as they fall due and plan appropriately for this liability.
In cases where a land tax liable taxpayer does not complete the online notification form, land tax assessments are likely to occur after the Revenue Office has detected a liability using other data sources, including rental bond lodgements.
The Revenue Office does not generally charge interest or penalty tax on backdated land tax assessments in cases where a rental bond has been lodged with the Revenue Office (the Revenue Office took over this function in July 2018) as this lodgement is taken as notification of a land tax liability.
Question 4
Land tax assessments are issued once the information received is matched to a property in the Revenue Office’s system. The Revenue Office does not separate land tax assessments according to how the Revenue Office was informed of the liability. It is therefore not possible to provide a value of land tax assessments that were raised based on the source of the information being received by the Revenue Office, such as a rental bond lodgement.
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