To view this post in PDF format please follow this link: Industry Update – End of Financial Year
The end of the financial year is always a busy time in the development space. As the end of the 2015/16 financial year is fast approaching, we take this opportunity to remind you of some upcoming changes that may affect you, your budgeting, or your property.
LOCAL GOVERNMENT FEES AND CHARGES
From 1 July 2016, we expect Local Governments to increase their fees and charges that apply to development assessment and compliance costs. This means that you will have until 30 June 2016 to lodge and pay for applications before the fees increase. The new fees for next financial year are yet to be released.
Local Governments traditionally experience an influx of development applications being lodged at this time of the year. The result may be longer than usual assessment timeframes by Local Government coping with the additional workload.
Some Local Governments may also increase their infrastructure charges from July 1. Local Governments that currently charge less than the ‘cap’ of $28,000 per dwelling are entitled to index their infrastructure charges. The indexation will be applied at the time of payment, and can be applied to charges previously levied (but yet to be paid).
BRISBANE CITY COUNCIL NEIGHBOURHOOD PLANS
Brisbane City Council recently announced the next round of new and updated Neighbourhood Plans. The new financial year will see the commencement of a range of other new Neighbourhood Planning projects across Brisbane. It is important to be aware of any new or changes to Neighbourhood Plans in your area as these can have a significant impact on the development potential or value of your property. For example, Neighbourhood Plans can change zoning, setbacks, density and carparking requirements.
|Urban Renewal Neighbourhood Plans (within 5km of the CBD)|
|Middle & Outer Suburb Neighbourhood Plans (outside 5km of the CBD)|
To find out more about these Neighbourhood Plans and other local planning projects within Brisbane City go to: https://www.brisbane.qld.gov.au/planning-building/planning-guidelines-tools/neighbourhood-planning/neighbourhood-plans-other-local-planning-projects
Want to know more?
call Ken OR Doug on (07) 3876 0533, or email firstname.lastname@example.org