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Amid a housing supply and cost of living crisis, NSW Government has changed the Environmental Planning and Assessment Act introducing a new ‘Housing and Productivity Contribution’ that will immediately cost developers thousands. Undoubtedly the additional cost will be funnelled back to the purchasers.

From 1 October 2023, the upfront construction tax will apply to all development applications in NSW.

The contribution will cost developers $12,000 a house and $10,000 a unit in Greater Sydney. Housing contribution will also apply to industrial, commercial and retail developments on a per square metre basis.

Vincent Young is still coming to grips with this very surprising legislative amendment.

Read more here:,on%20or%20after%20October%201.