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HUI LING MCCARTHY examines why the planning gain supplement was suddenly dropped and what needs to be considered
KEY POINTS
- The planning gain supplement was intended to charge on the increased value of land as a result of planning permission
- Many considered the proposed supplement to be too complicated
- A tariff-based alternative has been suggested by industry representatives
- The original planning gain supplement proposals were shelved in the light of opposition
Since the 1940s three separate Governments have tried to tax landowners and developers on the uplift in land value achieved by gaining planning permission.
The rationale was that 'windfall' gains due to decisions made by public authorities should be returned to the local community.
The development charge (1948-1952) subjected to tax 100% of the increase in land value attributable to the grant of planning permission the betterment levy (1967-1970) taxed 40% of the net development value and development land tax (1976-1985) 80%.
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