The much anticipated new Infrastructure Contribution Plan framework and rate released...
The Ministerial Direction in relation to the new ICP system has been released today. It sets standard levies for greenfield locations as well as setting out the allowable items and content of the ICPs, A few things of note:
There are different rates for the south east ($339,000 per net developable hectare) and the north and west ($328,500 per net developable hectare).
Local Parks are included in the ICP rate.
Transitional provisions are in place for those DCPs that are not yet approved but were exhibited prior to the ICP system coming into effect.
The 'Supplementary Levy' option is included.
There is opportunity to implement a lower rate than those identified in the Ministerial Direction.
Ability for Works in Kind arrangements are retained.
Read more here