Regulator taps too much money from building sector

A $20m commercial build levy would come down by $6,000. (Image: NZME)

Thu, 20 Apr 2023

The Ministry of Business, Innovation and Employment (MBIE) has amassed a building levy surplus of $71.6 million on the back of surging consents and spiralling build costs.The industry regulator, which clips a $1.75 GST inclusive charge on to developers for every $1,000 of new building work or renovations by value, now wants to reduce that to $1.48 per $1,000. It has also proposed more than tripling the building levy threshold, from $20,444 to $65,000. That, it said, should reduce consenting costs by about 15% across all levy payers, regard...

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