UDIA NSW news
Foreign Investors' Tax
As part of the 2016 Budget, the government announced that a stamp duty surcharge of 4 per cent was to apply to all acquisitions of NSW residential real estate by foreign investors. Further from 2017, a land tax surcharge of 0.75 per cent is to apply to holdings of NSW residential land by foreigners.
Consultation for the Greater Macarthur Priority Growth Area closed on 7 September 2016. In 2015 the government released draft plans for precincts around the seven rail stations from Glenfield to Macarthur as well as plans for new land release including Mount Gilead, Menangle Park and a new town in Wilton. Following an initial round of public consultation,
Seniors' SEPP Review
As part of the Government’s incremental planning reform, the Department of Planning is currently undertaking an extensive State Environment Planning Policy (SEPP) Review process.
International Speakers Lined Up for UDIA NSW Annual State Conference 2016
Geopolitical futurist Parag Khanna who is speaking at the upcoming UDIA NSW State Conference, foresees a world in which megacities, supply chains and connective technologies redraw the map away from states and borders.
Draft Biodiversity Offsets Calculator
In late April 2016, the NSW Government released a comprehensive Biodiversity Reform Package. The legislative package is designed to replace the Native Vegetation Act, Threatened Species Conservation Act, the Nature Conservation Trust Act and parts of the National Parks & Wildlife Act. Although the reform package is intended to simplify land management and biodiversity conservation, it is wide-ranging, detailed and multi-layered.
The Missing Middle
Over the past 12 months UDIA NSW has been working on a study to investigate the Missing Middle. Following the release of the Missing Middle discussion paper by the Department of Planning in November 2015, there has been much discussion throughout the industry about the Missing Middle.
The new Rezoning Review will replace the existing pre-Gateway review, enabling applicants to seek an independent review of council decisions on proposed rezonings. The overall aim of this is to have a more independent and faster planning review process that stops rezoning applications being endlessly revived. The new process commenced on September 1.
Roy Sheargold Scholarship 2016
Announced at the 2016 UDIA NSW President’s Luncheon, the Roy Sheargold Scholarship was founded in memory of the late Roy Sheargold, life member of UDIA National and UDIA NSW. Fifty years ago, Roy sat on the first Council of the Urban Development Institute of Australia (NSW). He remained actively involved in the industry, UDIA and international industry bodies for more than 45 years. Roy believed that if you wanted to be a great developer you had to continually update your knowledge and learn from international development experiences.
Strata Schemes Reform Package
Strata Reform is a key policy priority for UDIA NSW. Gazetted Strata Reform Regulations have been released which supports the Strata Schemes Management Act 2015, which has not yet commenced but is due to commence in November 2016. Regulations to support the Strata Schemes Development Act 2015 have not yet been gazetted but are expected for release in the coming weeks.
5 Martin Place, UDIA NSW President's Award Winner 2016
Commercial development, 5 Martin Place developed by Cbus Property and DEXUS Property Group, was awarded winner of the 2016 Urban Development Institute of Australia NSW President’s Award - an honour bestowed on the best project out of the 2016 UDIA NSW / ACT Meriton Awards for Excellence winners.