Planning Act 2023

The lease variation charge for a standard chargeable variation of a nominal rent lease is the amount determined under this section.

The Treasurer may, after consulting with the Minister, determine a lease variation charge for a standard chargeable variation of a nominal rent lease.

In considering whether to determine a lease variation charge under this section, the Treasurer must—

obtain advice from an accredited valuer at least once every 3 years; and

take into account the advice; and

comply with any other requirement prescribed by regulation.

A determination must—

as far as is practicable, represent the average market value in relation to the standard chargeable variation; and

if a standard chargeable variation increases the number of dwellings permitted on the land under the lease—state an amount for each additional dwelling permitted on the land under the lease; and

if a standard chargeable variation increases, or has the effect of increasing, the maximum gross floor area of any building or other structure permitted for non‑residential use on the land under the lease—state an amount for each additional square metre of gross floor area permitted on the land under the lease.

The determination must state—

the reasons for determining the lease variation charge; and

how the charge was determined.

A determination under subsection (2) is a disallowable instrument.