Planning Act 2023

On approval of a development application for a chargeable variation of a nominal rent lease, the commissioner for revenue must give—

a notice of assessment of the lease variation charge to the lessee; and

if the development application is made by someone other than the lessee—a copy of the notice to the applicant.

A lease variation charge is taken to be worked out—

on the day the development application for the chargeable variation is approved; or

if another day is prescribed by regulation—on that day.

A notice of assessment lapses on the earliest of the following:

the day the lease variation charge is paid;

the day the development approval of the chargeable variation lapses.

For the Taxation Administration Act 1999, an assessment of a lease variation charge is a tax liability that only becomes payable if the territory planning authority executes the variation of the lease.

Note The territory planning authority must not execute a variation of the lease unless the lessee has paid the assessed lease variation charge or the amount has been deferred (see s 328 (1)).