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GAIC rates, deferred GAIC interest rate and building works threshold 2017-18

Financial year Type A land (per hectare) Type B-1 & B-2 land (per hectare) Type C land (per hectare) Interest on deferred GAIC Building works threshold
2017-18 $93,400 $110,930 $110,930 2.8953% $1,167,700

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GAIC rates, deferred GAIC interest rate and building works threshold 2018-19

Financial year Type A land (per hectare) Type B-1 & B-2 land (per hectare) Type C land (per hectare) Interest on deferred GAIC Building works threshold
2018-19 $95,440 $113,360 $113,360 3.1004% $1,193,260

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GAIC

Information on the background of the GAIC is available on the Department of Environment, Land, Water and Planning website.

Interest on deferred GAIC

The interest payable on a deferred GAIC is calculated on a daily basis at the 10-year bond rate.

This rate is the average of the daily yields for the 10-year Treasury Corporation of Victoria bond for the month of May in the financial year preceding the financial year in which the day occurs.

Building works threshold

Building works on land within the contribution are below the statutory threshold are an excluded event. This threshold is indexed each subsequent financial year using the consumer price index (CPI).

View historical rates