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Taxation, Sladen Snippet Daniel Smedley Taxation, Sladen Snippet Daniel Smedley

Sladen Snippet – Primary Production Land Tax exemption for property developers

In a recent decision the New South Wales Supreme Court held that although the subject land had been purchased for future residential development, during the years relevant to the disputed Land Tax assessments, the dominant use of the land related to cattle-grazing operations under an agistment agreement. The taxpayer property developer was therefore eligible to apply the exemption applicable to land used in primary production in s 10AA(2) of the Land Tax Management Act 1956 (NSW).

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