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ARTICLE · 06 SEPTEMBER 2010

New Victorian Growth Areas Infrastructure Contribution - Are You Ready?

Developers and purchasers of land in Victorian growth areas (or an interest in a land rich entity which holds land in a Victorian growth area) on or after 2 December 2008 need to consider their existing and potential liability for the Growth Areas Infrastructure Contribution and take appropriate action now.

AustraliaReal Estate and Construction

Developers and purchasers of land in Victorian growth areas (or an interest in a land rich entity which holds land in a Victorian growth area) on or after 2 December 2008 need to consider their existing and potential liability for the Growth Areas Infrastructure Contribution and take appropriate action now.

The Planning and Environment Amendment (Growth Areas Infrastructure Contribution) Act 2010 (Vic) came into force on 1 July 2010. The Act introduces a new Growth Areas Infrastructure Contribution (GAIC) in Victoria which:

  • will be used to fund State infrastructure and associated costs in growth areas; and
  • may be payable by developers and purchasers of land (or interests in land rich entities) in Victorian growth areas.

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