Growth Areas Infrastructure Contribution
The Growth Areas Infrastructure Contribution (GAIC) is a charge designed to fund essential State infrastructure in Melbourne's growth areas. It began operation on 1 July 2010 and applies to growth area land brought within the Urban Growth Boundary in 2005-06, 2010 or 2012 and zoned for urban development.
The GAIC is administered under Part 9B of the Planning and Environment Act 1987 and the Taxation Administration Act 1997.
The Growth Areas Authority (GAA) has the main responsibility of administering the GAIC legislation and determining GAIC related policy.
GAIC contribution rates for 2012/13
The Planning and Environment Act 1987 requires the GAIC contribution to be adjusted annually according to the formula set out in the Act and for this amount to be published by the Minister for Planning by 1 June each year. The adjusted amount will come into effect from 1 July each year.
The adjusted GAIC contribution amounts for 2012/13 are:
- Type A land: $84,960 per hectare
- Type B1 or B2 land: $100,890 per hectare
- Type C land: $100,890 per hectare.
The adjusted threshold amount for building works can be found on the GAA website.
The adjusted indexation of deferred GAIC and interest payable on that deferred GAIC can be found on the SRO's website.