Government raises building levy threshold to lower costs

(Image: Getty)

Tue, 12 Mar 2024

The government has agreed to scrap the building levy for all projects under $65,000 in its fight “to lower building costs and reduce red tape”.Currently, any building project worth $20,444, including GST or more, is subject to the building levy, which is paid at $1.75 per $1,000 of building work value.From July 1, projects under $65,000, including GST, will be exempt from paying the levy. Building and construction minister Chris Penk said the change would reduce unnecessary red tape "and mean Kiwis making small improv...

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