UDIA NSW news
The 2017 Budget included a measure that changes the time when GST is payable following the sale of a new property to the time of settlement. The onus for paying the GST will also shift to the consumer, rather than the developer.
Endeavour Energy Sale
Endeavour Energy has been 50.4% leased to the private sector for $7.6 billion. The consortium it was leased to includes:
Biodiversity Conservation Advisory Panel
The NSW Government is now inviting applications for membership on the new NSW Biodiversity Conservation Advisory Panel, established under the Biodiversity Conservation Act 2016.
Private water providers to be stung by IPART
The Independent Pricing and Regulatory Tribunal (IPART) is likely to recommend that the NSW Government introduce a ‘retail-minus’ pricing scheme for water in NSW.
The move will increase the operating costs of recycled water plants tenfold, effectively destroying the industry. This increases the ecological impact of development, threatens jobs and will slow down development.
Property management opportunity: Darling Harbour and The Rocks
Property NSW today called for Expressions of Interest from the private sector to provide integrated property management services at NSW Government-owned property holdings in key Sydney Harbour precincts including The Rocks and Darling Harbour.
State Budget: 3 new highways in pipeline
The NSW Government will spend over $40 million on planning for the M9 (outer orbital), M12 (link to Western Sydney Airport) and M6 (Southern Sydney to Wollongong) in the upcoming NSW Budget
Moderinising Airspace Protection submission
In December 2016, the Department of Infrastructure and Regional Development in consultation with the Civil Aviation Safety Authority (CASA), Airservices Australia (Airservices) and the Department of Defence (Defence), released a consultation paper which outlined three proposals to modernise airspace protection in Australia. The consultation paper was on exhibition to 28 February 2017.
Environmental Planning and Assessment Amendment Bill submission
In 2016, the Department of Planning and Environment commenced consultation with stakeholders to devise improvements to the Environmental Planning and Assessment Act 1979 (the EP&A Act).
Greater Sydney Commission submission
In November 2016, the Greater Sydney Commission placed their Draft District Plans on exhibition. Submissions closed on 31 March 2017, with the GSC receiving over 3,000 responses.
UDIA NSW made a submission that champions the GSC for the role it must play.
GSC Submission: Affordable Housing
Additional recommendations to the GSC include a reform of complying development regulations, whereby complying developments are approved on merit, rather than being subject to blanket prohibitions. This reform would improve building diversity and improve housing affordability.