LAND TAX ABOLITION

No. 85 of 1956.

An Act to amend the Land Tax Abolition Act 1953.

[Assented to 8th November, 1956.]

BE it enacted by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—

Short title and citation.

1.—(1.) This Act may be cited as the Land Tax Abolition Act 1956.

(2.) The Land Tax Abolition Act 1953, as amended by this Act, may be cited as the Land Tax Abolition Act 1953–1956.

Commencement.

2. This Act shall come into operation on the day on which it receives the Royal Assent.

3. After section two of the Land Tax Abolition Act 1953 the following section is inserted:—

Effect of charge on land.

“3. Where land that is subject to a charge in respect of unpaid land tax by virtue of section fifty-six of the Land Tax Assessment Act 1910–1952 is, on or after the date of commencement of this section, purchased by a bona fide purchaser for value, the charge does not have effect as against the purchaser unless, at the time the land is so purchased—

(a) the charge is registered in relation to the land in accordance with sub-section (2.) of that section; or

(b) a caveat with reference to the charge is in force in respect of the land, being a caveat lodged with the Registrar-General or Registrar of Titles or other proper officer of the State or Territory of the Commonwealth in which the land is situated.”.