Land Development Contribution Act 1970

Land Development Contribution Act 1970 As at 20 November 1992 Reprint history (since 1972): Reprint No 1 29 October 1973 Reprint No 2 16 October 1979 Reprint No 3 9 March 1989 Long Title An Act to levy a contribution in relation to the development of certain land within the Sydney region; and for purposes connected therewith. 1 Name of Act and construction This Act may be cited as the Land Development Contribution Act 1970, and shall be read and construed with the Land Development Contribution Management Act 1970, which in this Act is referred to as the Principal Act. 2 Levy of contribution (1) In respect of declared land, there shall be charged, levied, collected and paid in accordance with the provisions of the Principal Act and at the times and in the manner therein provided: (a) development contribution calculated at the rate of thirty per centum of the leviable increase in the price of the land, and (b) development contribution calculated at the rate of thirty per centum of the leviable increase in the value of the land. (2) Where, on assessment in accordance with the Principal Act, the amount of contribution payable would, but for this subsection, be: (a) less than one dollar, no contribution is payable, or (b) an amount consisting of a number of dollars and a number of cents: (i) if the number of cents is less than fifty--the number of cents shall be disregarded, or (ii) if the number of cents is fifty or more--the number of cents shall be disregarded and the amount of the contribution payable shall be that number of dollars increased by an amount of one dollar. Historical notes The following abbreviations are used in the Historical notes: Am amended LW legislation website Sch Schedule Cl clause No number Schs Schedules Cll clauses p page Sec section Div Division pp pages Secs sections Divs Divisions Reg Regulation Subdiv Subdivision GG Government Gazette Regs Regulations Subdivs Subdivision s Ins inserted Rep repealed Subst substituted Table of amending instruments Land Development Contribution Act 1970 No 24. Assented to 8.4.1970.