<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

Vacant Tax

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<div class="cq-article-content-paras section">
Residential property developers are expected to escape a new tax measure which prohibits deductions for expenses associated with holding vacant land.
The measure was included in the "tax integrity" initiatives in Tuesday's budget, as the federal government turned its attention to land-banking in the housing affordability consideration.
The move to abolish expenses raised concerns in the development industry that its costs for holding land could rise as a result.
However, Property Council of Australia chief executive Ken Morrison told Fairfax Media on Wednesday he had clarified the situation with the Treasurer's office.
</div>
<div class="cq-article-content-media section">"So long as there is an operating business being undertaken on the land then this measure won't apply," Mr Morrison said.</div>
<div class="cq-article-content-paras section">
<div id="article-inline-ad" class="adWrapper"> </div>
</div>
<div class="related-quotes section">"In the vast majority of cases for development companies that will be the case, so this is not a big bogey man for the industry that some have speculated."</div>
<div class="cq-article-content-paras section">
According to Treasury, the initiative will raise $50 million in revenue for the government over the forward four years estimates period.
"This is an integrity measure to address concerns that deductions are being improperly claimed for expenses, such as interest costs, related to holding vacant land, where the land is not genuinely held for the purpose of earning assessable income," it said in the budget papers.
</div>
<div class="cq-article-content-paras section">
"It will also reduce tax incentives for land banking, which deny the use of land for housing or other development."
The measure is set to take effect from July 1 next year.
Treasury said the new measure will apply to land held for residential or commercial purposes.
"However, the 'carrying on a business' test will generally exclude land held for commercial development," it said.
</div>
<div class="cq-article-content-media section">Further detail will emerge in legislation at the aim of targeting of individuals who had chosen to hold land and claimed expenses for a development that didn't eventuate.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">Before the PCA's clarification was obtained, Frasers Property Australia chief executive Rod Fehring suggested the new tax measure that prohibits deductions for expenses associated with holding vacant land, "reflects a lack of understanding" from the federal government. <div class="cq-article-content-paras section">
"From our point or view, we can't ignore it, we have to be exempted from it, or we will have to change our business model, which is to find ways not to own land and develop it … that's the capital-efficient thing to do," Mr Fehring told Fairfax Media during Frasers Property first-half results presentation in Singapore.
</div>
<div class="cq-article-content-media section">"It is not viable for development purposes. I don't see how adding another tax to land and housing products, that land is raw material for, will make housing more affordable."</div>
<div class="cq-article-content-paras section">
"We pay land tax, we pay development contributions, we pay state infrastructure contributions, we pay stamp duty, we pay foreign purchasers surcharge, we pay rates, need I go on?" Mr Fehring said.
"I am not enthusiastic, it is highly counter-productive … supply will be further constrained."
</div>
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j.ballantyne1990-6AQqhLzZaK

Land banking tax measures not likely to affect major residential property developers

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A vacant residential property tax (VRPT) was introduced from 1 January 2018 in Victoria. From January 1, the new 1 per cent Vacant Residential Property Tax will apply to properties in 16 councils that are not occupied for six months of the year. The Victorian Government introduced this tax with the claim it would help address the lack of housing supply in Victoria.
If you own a property in one of the affected Melbourne council areas and it was unoccupied for six months or more between 1 May and 31 December 2017, you must notify State Revenue Victoria by 15 January 2018.
As the legislation was only introduced into the Victorian Parliament in May 2017, homes will be considered to have been occupied between 1 January and 30 April 2017. This means, for the 2017 calendar year, homes will only need to be occupied for a further two months between 1 May and 31 December to be considered to have been occupied for more than six months.
Its compliance program will look at both non-reporting of vacant properties and incorrect exemption claims.
<ol>
<li>What is the vacant residential land tax?</li>
</ol>
The vacant residential land tax (commonly referred to as the vacant residential property tax or vacancy tax) is a tax on residential properties in the inner and middle suburbs of Melbourne which are unoccupied for more than six months a year.
<ol start="2">
<li>What is meant by "vacant"?</li>
</ol>
A property will be considered vacant if it was unoccupied for more than six months in the preceding calendar year by:
The owner, or the owner’s permitted occupier, as their principal place of residence, or
A person under a lease or short-term letting arrangement
The six months does not need to be continuous.
<ol start="3">
<li>When does the tax start?</li>
</ol>
The tax will apply from 1 January 2018 and is based on use and occupation in the preceding year. For example, tax liabilities for the 2018 tax year will based on vacancy in 2017, tax liabilities for the 2019 tax year will based on vacancy in 2018 and so on.
<ol start="4">
<li>Does the tax apply to all residential properties in Victoria?</li>
</ol>
No. The tax will only apply to vacant residential properties located in the following local council areas:
Banyule
Bayside
Boroondara
Darebin
Glen Eira
Hobsons Bay
Manningham
Maribyrnong
Melbourne
Monash
Moonee Valley
Moreland
Port Phillip
Stonnington
Whitehorse
Yarra
<ol start="5">
<li>How much is the tax and how is it calculated?</li>
</ol>
This is an annual tax of 1 per cent of the capital improved value (CIV) of taxable land. For example, if the taxable land has a CIV of $500,000, the tax will be $5000, if the taxable land has a CIV of $1,000,000, the tax will be $10,000.
The CIV of a property is the value of land and buildings as determined by the general valuation process. The CIV of a property is displayed on your council rates notice. It is not always displayed on all four quarterly rates notices, but will always appear on the first notice issues in the financial year.
<ol start="6">
<li>Are there any exemptions?</li>
</ol>
Yes. In addition to existing exemptions for land tax purposes, there will be several new exemptions which will apply to the vacant residential land tax. These include exemptions for:
Holiday homes, (see point 7 below)
City apartments/homes/units used for work purposes, (see point 8 below)
Property transfers during the year, (see point 9 below) and
New residential properties (see point 10 below)
<ol start="7">
<li>When is a holiday home exempt?</li>
</ol>
The holiday home exemption will apply to properties which are occupied as a second home by the owner for at least four weeks in the year.
This exemption will be subject to the following conditions:
The land owner must have had a principal place of residence in Australia in the preceding year, and
The Commissioner of State Revenue must be satisfied that the property for which the exemption is being sought is a genuine holiday home
An owner will only be able to claim the exemption in respect of one holiday home in a calendar year.   
<ol start="8">
<li>When is a residential property used for work purposes exempt?</li>
</ol>
This exemption is designed for properties owned and used by people who stay in the inner and middle suburbs of Melbourne for work purposes, but whose principal place of residence is elsewhere in Australia.
The exemption will apply to properties that are occupied for at least 140 days a year for the purpose of attending the owner’s workplace.
This exemption will be subject to the following conditions:
The land owner had a principal place of residence in Australia in the preceding tax year, and
The place of work must be in one of the specified local council areas
<ol start="9">
<li>What if a property changes ownership during a year?</li>
</ol>
Land that changes ownership during the year will be exempt from the tax in the following calendar year. For example, if a property is sold and transferred during 2018, it will be exempt from the tax for the 2019 tax year.
<ol start="10">
<li>What if a property is converted to residential premises during a year?</li>
</ol>
Land that becomes “residential land” during the year will not be subject to the vacant residential land tax in the following calendar year. For example, if a warehouse is converted into residential apartments during 2018, it will be exempt from the vacant residential land tax for the 2019 calendar year.
<ol start="11">
<li>How will the SRO know if you have vacant property?</li>
</ol>
Owners of vacant residential properties located within the specified local council area will be required to notify the Commissioner of State Revenue by 15 January in each year, and provide any information that the Commissioner requests. If a property is eligible for an exemption, the land owner will be asked to notify the SRO and advise which exemption applies.
If an owner fails to make a notification by 15 January, it will be a notification default and may be subject to penalty tax under the Taxation Administration Act 1997.
The State Revenue Office will conduct monitoring and compliance activities to ensure that vacant residences are being declared as required. Their compliance program includes comparing their data with other state and federal agencies, and conducting investigations into suspected avoidance. For example they may check water usage with relevant water authorities as a lack of water usage is a good indicator that a property is vacant.
<ol start="12">
<li>Does the tax apply to properties leased through online platforms?</li>
</ol>
Yes. If a property in one of the specified local council areas is leased through an online platform such as AIRBNB, it will be subject to the tax if it is unoccupied for more than six months in a calendar year. The six months does not need to be continuous.
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Vacant Melbourne property owners need to meet January 15 notification deadline

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The ACT government’s budget earlier this month signalled three major changes for the property market.
The changes include extension of the land tax to all homes that are not the owner’s principal place of residence, whether they are rented or not, said lawyers Meyer Vandenberg in a note. The new tax is expected to raise an additional $2 million in revenue annually and will be implemented from July 1, 2018.
In a nutshell, it is a vacancy tax. Earlier this year, Victoria had announced a vacancy tax and the Federal Budget also announced a new tax on vacant properties owned by foreigners in its efforts to address housing affordability.
At present, land tax is already paid by owners of residential properties that are rented, or that are owned by a company or a trust. Land tax is not paid by the owners of commercial property.
The basis for calculating land tax, and the marginal rates, will also change on 1 July 2017, said the law firm.
Another change is the stamp duty on the transfer of commercial properties. From July 1, 2018, stamp duty on the transfer of a commercial property valued at less than $1.5 million will be abolished. 
Stamp duty will be paid at a rate of 5% where a property is valued at $1.5 million or more. 
“This will mean that the majority of commercial conveyance transactions in the ACT will not be subject to stamp duty from 1 July 2018,” they said.
Also, from June 7, 2017 stamp duty rates will change for commercial and residential properties. The commercial stamp duty rate will be effectively half of the residential stamp duty rate, they said.
From July 1, the government has also changed the Lease Variation Charge (LVC) applicable to varying crown leases to limit the maximum number of residential dwellings permitted on the land. This applies where a crown lease doesn’t currently specify the maximum number of dwellings.
Currently, a variation of this type of crown lease would incur an LVC of $7,500 per dwelling for the first three dwellings, and $5,000 for each additional dwelling.
“We understand that from 1 July 2017, the new LVC will be calculated on the basis of a flat charge of $30,000 per dwelling,” the note said.
However, development applications which are formally submitted for a completeness check in eDevelopment before 30 June 2017 will incur the current (lower) LVC.
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jonathanchancellor-7SQnKwU6yx

Land tax to be levied on vacant residential properties in ACT

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The Australian government, seeking to address the perceived issue of foreign buyers hoarding properties, will enact a new tax on any vacant properties owned by foreigners.
"This measure is intended to encourage foreign owners of residential property to make their properties available for rent where they are not used as a residence and so increase the number of dwellings available for Australians to live in."
The new charge will come into effect as of Tuesday night's budget and will be levied annually.
It will bring in $16.3 million over the forward estimates being monitorred by the Australian Tax Office.
There are few details on its implementation. The Victorian tax will be self-reporting. 
Julius Wei, Co-Founder and Head of Investment Analysis at BMY Group said while the plan of a ‘ghost property tax’ doesn’t come from a bad place, though the structure of taxing only foreign investors is "however missing the target." "As the locals definitely hold way more investment properties (considering the negative-gearing advantage they enjoy) than foreign buyers, the tax should apply to all vacant property holders regardless of whether they are local Australians or foreign investors. "This is again more political than directly tackling a financial and economic problem of saying we don’t welcome foreigners, despite local investors have way more influence on the property market.
"At a time when the Australian domestic demand is in deep trouble (checking today’s disastrous retail sales figures), the country should welcome foreign sources of investment, talent and buyers of its exports, not doing the opposite to shut the doors," Julius Wei said.
The Property Council of Australia chief executive Ken Morrison said the vacant property chrarge was a waste of money.
"We have not seen any evidence that the 'vacant property' issue is real," Mr Morrison said,
"It appears to be a policy seeking to solve an 'urban myth'.
Mr Morrison said that the tax "will cost more to administer than it will raise."
"This measure will not improve housing affordability one iota," he told The Australian Financial Review.
Earlier this month Property Observer reported that foreigners who leave their home vacant could be taxed at a Federal level.
Soon after Juwai's Gavin Norris reported on what the new Victoria vacant property tax means for residents.
Similarly earlier this year Property Observer reported that Victoria was to implement a new vacant property tax to tackle its housing affordability issue.
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