NSW Section 94 Changes

NSW Section 94 Changes

A friendly reminder of the changes which provide some form of clarity albeit will introduce another level of uncertainty and unease from Industry Stakeholders with NSW Section 94 Changes.

NSW Section 94 Changes

Changes to Section 94 of the Environmental Planning and Assessment Act, which allows local councils to levy contributions for public amenities and services because of new development, will now be Uncapped.

Caps that have been fixed since 2010;

  • $30,000 in greenfield areas
  • $20,000 in infill areas

(per dwelling or residential lot).

New structure

Greenfield;  

  • $35,000 on 1 January 2018;
  • $40,000 on 1 July 2018;
  • $45,000 on 1 July 2019; and
  • no cap from 1 July 2020 (provided that the levies are in-line with an IPART reviewed contributions plan).

 Infill Areas;

  • $25,000 on 1 January 2018;
  • $30,000 on 1 July 2018;
  • $35,000 on 1 July 2019; and
  • no cap from 1 July 2020 (provided that the levies are in-line with an IPART reviewed contributions plan).

If you wanted to read further, NSW Government Planning circular below.

http://www.planning.nsw.gov.au/Policy-and-Legislation/~/media/EFBE020CD61C4FFD8BC4F51591A447CF.ashx

James Okkerse

 

 

 

the property developer's financier

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