May 4, 2010
SMALL blocks in Melbourne's growth area will not be subject to the Victorian Government's infrastructure tax.
It is understood that under a compromise deal between the Government and the opposition, blocks of less than 5ha will be exempted from the Growth Area Infrastructure Charge.
The exemption will apply to blocks of land until they are subdivided or developed.
It is believed that the exemption will apply to most blocks in areas that are to be rezoned within Melbourne's growth boundary.
The exemption will apply to blocks of land until they are subdivided or developed.
It is believed that the exemption will apply to most blocks in areas that are to be rezoned within Melbourne's growth boundary.
Blocks that are developed or are larger than 10ha will still be subject to the $95,000 a hectare tax.
It is now expected that the controversial legislation to create the tax will be passed by both Houses of Parliament.
It is now expected that the controversial legislation to create the tax will be passed by both Houses of Parliament.
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