The GAIC scheme came into effect in Victoria in July 2010 and affects all land that has been brought within an urban growth boundary. The GAIC scheme concerns the following municipalities:
Our services include:
General or specific advice on liability and trigger events
Staged payment applications
Applications to defer liability
Undue hardship applications
GAIC scheme liability may be triggered by a land owner upon purchasing or transferring a property, receiving a statement of compliance for a plan of subdivision or making an application for a building permit. If not approached correctly, a land owner or purchaser may find itself in a difficult financial position.
In the landmark decision of Frontlink Pty Ltd v Commissioner of State Revenue  VSC 25 handed down on 11 February 2016, the Court confirmed that if a developer is required to divest land for a public purpose, then it is possible to do so without triggering GAIC. For more information click here.
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Contact us today for advice on Growth Areas Infrastructure Contribution (GAIC). Telephone (03) 9670 8951 or click here to find one of our lawyers.