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An Overhaul of the Taxation Scheme: Developments for Developers

In July 2023, the NSW parliament passed the Environmental Planning and Assessment Amendment (Housing and Productivity Contributions) Act 2023 (NSW)which introduces Housing and Productivity Contribution (HPC). HPC replaces the previous Special Infrastructure Contribution (SIC) scheme and applies a more consistent contribution framework over a much wider area, including the entire Local Government Areas located in:

  • the Greater Sydney region;
  • the Illawarra-Shoalhaven region;
  • the Lower Hunter region; and
  • the Central Coast region.

The HPC will apply from 1 October 2023, except in relation to land within the Western Sydney Growth Areas and Western Sydney Aerotropolis SIC areas (to transition to the HPC regime by 2026). [...]  READ MORE →