As a landowner, you should consider whether you may be eligible
for a deduction off the valuation for the site improvement works
necessary to prepare the land for development. Deductions for site
improvements will be for works that increase the value of the land,
works to manage or remediate contaminated land under the
Environmental Protection Act 1994;
restoration or remediation works that improve the land's
surface, which can include filling, grading, levelling or retaining
reclamation works including reclaiming land by draining or
underground drainage; and
any other works needed to improve or prepare it for
Site improvements do not include any building or associated
works, such as excavation for footings, carparks or landscaping and
drainage for building works.
For example, a developer purchases a large block of land to
subdivide for residential allotments. There is a large industrial
shed on the land with the remainder of the block covered in
vegetation. To prepare the land for subdivision, significant site
works are required, including remediation for contamination, tree
clearing and levelling, filling and revetment works. These works
may be eligible for a deduction for site improvements.
For the purposes of site valuation and deductions, it does not
matter if the land has been developed or previously had buildings
on it that have been demolished.
If you think that your site valuation does not adequately
reflect deductions for site improvements, you will need to object
to your valuation.
To be eligible for the deductions the landowner must:
have paid for the site improvements within the past 12
owned the property when the site improvements were paid for;
still own the property.
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The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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