The Property Council’s sock puppets (otherwise known as the Canberra Liberals) have been wailing and gnashing their teeth about “Change of Use” and the calamity this represents to decent society.
So it’s worth taking a look at the discussion paper that lead us to the changes.
It explains the situation like this:
The Change of Use Charge (CUC) system operating in the Australian Capital Territory (ACT) is intended to return a significant proportion of any ‘windfall gains’ from a lease variation back to the community – consistent with the leasehold system in operation in the ACT, whilst supporting property development activity. However, the CUC system whichhas evolved over many years appears to have deviated from this straightforward intention.
So the changes take us back to where the system was meant to be. They won’t stop development, they will take a slice out of real estate speculation.
If not for the money it will raise services would have to be cut or charges raised elsewhere.
Surely this is a “Good Thing”tm