Land Tax Amendment Act 2012
FA E R
N

AT F
TQUO U

BERMUDA

LAND TAX AMENDMENT ACT 2012

2012 : 7

WHEREAS it is expedient to amend section 3A of the Land Tax Act 1967;

Be it enacted by The Queen’s Most Excellent Majesty, by and with the advice and
consent of the Senate and the House of Assembly of Bermuda, and by the authority of the
same, as follows:

Citation
This Act may be cited as the Land Tax Amendment Act 2012.

Amends section 3A
In section 3A of the Land Tax Act 1967—

delete subsection (1) and substitute—

A person may make an application to the Tax Commissioner (on such
form as may be provided for the purpose), requesting that, in relation to a valuation
unit to which this section applies, tax shall be charged, levied and collected on the
special concessionary basis in subsection (4).”;

“(1)

in subsection (2), delete “the criteria” and substitute “the Tax
Commissioner is satisfied that the criteria”;

after subsection (3) insert—

The special concessionary basis is as follows—

where the annual rental value of the valuation unit does not exceed
$50,000, no tax shall be charged, levied and collected; and

“(4)

(a)

1

2

(a)

(b)

(c)

1

LAND TAX AMENDMENT ACT 2012

where the annual rental value of the valuation unit exceeds
$50,000, tax shall be arrived at by—

first calculating the amount of the tax falling to be charged,
levied and collected on the basis of the unit’s full annual rental
value; and

then deducting from that amount the tax falling to be charged,
levied and collected on a private dwelling with an annual rental
value of $50,000 which is not subject to the special
concessionary basis in paragraph (a).”

(b)

(i)

(ii)

Commencement and transitional provision
This Act comes into operation on 1 July 2012 (“the commencement date”).

Notwithstanding the requirement in section 3A(1) of the Land Tax Act 1967
(inserted by section 2(a) above) to make an application for tax to be charged, levied and
collected on the special concessionary basis, in a case where, immediately before the
commencement date, the qualifying criteria in section 3A(3) were met in relation to a
valuation unit, the provisions of section 3A (as amended) shall apply to that unit, provided
that the Tax Commissioner is satisfied that the criteria continue to be met.

[Assent Date: 27 March 2012]

[Operative Date: 01 July 2012]

3 (1)

(2)

2