FOR LAND CREATED DURING 2015-16 AND STILL OWNED AT 30 JUNE 2016
Land Tax Assessment Act 2002 section 43A 
As at 1 July 2016 
Section 43A of the Land Tax Assessment Act 2002 provides a concession for the amount of land tax payable on subdivided lots owned at 30 June each year.
This concession allows subdividers to pay land tax and metropolitan region improvement tax on the lower undeveloped or englobo value of land holdings, rather than the full subdivided value of lots, for one year after the creation of the lots.

Source: ​AICWA Newsletter 4 August 2016