(1)  In a financial year beginning on 1 July following the commencement of this Act or on 1 July in any subsequent year, the amount of land tax payable in respect of primary production land is nil.

(2)  If primary production land is apportioned under section 27 of the Land Tax Act 2000 , the amount of land tax payable in respect of the apportioned assessed land value in respect of any primary production land is nil.