Regulator taps too much money from building sector

Regulator taps too much money from building sector
A $20m commercial build levy would come down by $6,000. (Image: NZME)
Brent Melville
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...

More Property

Triple Connection faces liquidation
Property

Triple Connection faces liquidation

The debt collector says the company "don't pay their bills".

Gregor Thompson 13 Dec 2024
Beachlands South development appeals settled
Property

Beachlands South development appeals settled

Appeals challenging the approval of a plan change for the Beachlands South development have been settled, paving the way for the multi-billion dollar project to proceed.“The success of negotiating a sensible outcome means that the development process can now move forward with the...

Staff reporters 11 Dec 2024
Winton 'stands to gain millions': MP
Property

Winton 'stands to gain millions': MP

The proposed fast-tracking of Sunfield is 'cronyism', local MP claims.

Maria Slade 11 Dec 2024
Olliver avoids bankruptcy – for now
Property

Olliver avoids bankruptcy – for now

A bid by BNZ to bankrupt the developer has been adjourned until February.

Maria Slade 10 Dec 2024