The Growth Areas Infrastructure Contribution (GAIC) exposure draft released this afternoon is a complex 97 page Bill that will require comprehensive review before the Property Council can comment.
However, Property Council executive director, Jennifer Cunich, said the draft Bill is too complex for the Property Council to provide any constructive comments immediately. The association will make further comments in the coming week.
“The draft bill is 97 pages long and makes a range of amendments to complex legislation,
“Our legal experts will need to have a good hard look at the Bill before we can provide any constructive comments on how this will impact the industry,” said Ms Cunich.
The Bill makes amendments to five existing pieces of legislation and refers to a range of others when determining the administration of the GAIC.
At first glance, the Property Council is not confident the concerns the industry have raised throughout the consultation process have been adequately addressed.
“We still have very serious concerns about the impact of an upfront charge on housing affordability and the development industry,” said Ms Cunich.
“Moving the charge from a vendor charge to a purchaser charge does not solve the problem industry has identified throughout the consultation process,” said Ms Cunich.
“If asked to comment at this early stage, we have to say we are not confident the government has listened to industry concerns and more work will need to be done to secure the support of the property sector.”
-ENDS-
For further comments contact:
Rachel Saunders, Public Affairs Manager (03) 9664 4230 or 0408 861 408
