46LCommunity infrastructure levy not to exceed maximum

46L Community infrastructure levy not to exceed maximum (1) An approved development contributions plan must not in respect of a development of land require payment of an amount of community infrastructure levy which is greater than— S. 46L(1)(a) amended by Nos 101/2004 s. 5, 7/2018 s. 24(1). (a) in the case of the construction of a dwelling, the maximum dwelling amount for each dwelling to be constructed; and (b) in any other case, 0⋅25 cents in the dollar of the cost of the building work for the development. (2) The Governor in Council may from time to time by Order published in the Government Gazette vary the maximum amount which may be collected under subsection (1). S. 46L(3) inserted by No. 7/2018 s. 24(2). (3) The ***maximum dwelling amount*** is— (a) for the financial year beginning on 1 July 2018, $1150; and (b) for the financial year beginning on 1 July 2019 and each subsequent financial year, the adjusted maximum dwelling amount determined in accordance with section 46LA for that financial year. S. 46L(4) inserted by No. 7/2018 s. 24(2). (4) The Secretary must cause to be published on the Department's Internet site the maximum dwelling amount for a financial year on or before 1 July of each financial year for which the amount is adjusted in accordance with section 46LA. S. 46LA inserted by No. 7/2018 s. 25. 46LA Adjusted maximum dwelling amount (1) The adjusted maximum dwelling amount for a financial year is to be determined in accordance with the following formula— AMDA is the adjusted maximum dwelling amount being determined; PMDA is the maximum dwelling amount for the previous financial year; For the purposes of determining the maximum dwelling amount— • for the financial year beginning on 1 July 2019, "PMDA" is the maximum dwelling amount for the financial year beginning on 1 July 2018, which is $1150—see section 46L(3)(a); and • for the financial year beginning on 1 July 2020, "PMDA" is the maximum dwelling amount for the financial year beginning on 1 July 2019, which is the adjusted maximum dwelling amount calculated in accordance with this section for that financial year—see section 46L(3)(b). A is the sum of the producer price index numbers for— (a) the last reference period in the financial year 2 years earlier than the financial year in respect of which the adjusted maximum dwelling amount is being determined; and (b) each of the reference periods (other than the last) in the financial year immediately preceding the financial year in respect of which the adjusted maximum dwelling amount is being determined; B is the sum of the producer price index numbers for— (a) the last reference period in the financial year 3 years earlier than the financial year in respect of which the adjusted maximum dwelling amount is being determined; and (b) each of the reference periods (other than the last) in the financial year 2 years earlier than the financial year in respect of which the adjusted maximum dwelling amount is being determined. In the case that the reference periods are the quarterly periods of a financial year, the variables "A" and "B" for the determination of the adjusted maximum dwelling amount for the financial year beginning on 1 July 2020 are as follows— • "A" is the sum of the producer price index numbers for the June quarter in the financial year beginning on 1 July 2018 and the September, December and March quarters in the financial year beginning on 1 July 2019; • "B" is the sum of the producer price index numbers for the June quarter in the financial year beginning on 1 July 2017 and the September, December and March quarters in the financial year beginning on 1 July 2018. (2) The adjusted maximum dwelling amount determined under subsection (1) is to be rounded up or down to the nearest $10 (and, if the amount by which the amount to be rounded is $5, is to be rounded up). ***maximum dwelling amount*** has the same meaning as in section 46L(3); ***producer price index*** means— (a) the producer price index for non-residential building construction in Victoria as published by the Australian Bureau of Statistics; or (b) any other index specified by the Governor in Council by Order published in the Government Gazette. S. 46LB inserted by No. 7/2018 s. 25. 46LB Adjustment of dwelling amount specified in an approved development contributions plan (1) This section applies if an approved development contributions plan provides that an amount of a community infrastructure levy is payable in respect of each dwelling to be constructed (a ***payable dwelling amount***). (2) The payable dwelling amount is to be adjusted in accordance with section 46LC for— (a) the financial year after the first financial year; and (b) each subsequent financial year. (3) The relevant collecting agency must publish on its Internet site the payable dwelling amount for a financial year on or before 1 July of each financial year for which the amount is adjusted under subsection (2). (4) The ***first financial year***, in relation to an approved development contributions plan, is— (a) if the plan is approved on or before 30 June 2019, the financial year beginning on 1 July 2018; and The first financial year for a development contributions plan approved on 1 February 2016 is the financial year beginning on 1 July 2018. (b) in any other case, the financial year in which the plan is approved. The first financial year for a development contributions plan approved on 1 December 2019 is the financial year beginning on 1 July 2019. S. 46LC inserted by No. 7/2018 s. 25. 46LC Adjusted payable dwelling amount (1) The adjusted payable dwelling amount for a financial year is to be determined in accordance with the following formula— APDA is the adjusted payable dwelling amount being determined; PPDA is the payable dwelling amount or the adjusted payable dwelling amount determined (as the case requires) for the previous financial year; A development contributions plan approved on 1 December 2018 specifies a dwelling amount of $1000. For the purposes of determining the adjusted payable dwelling amount— • for the financial year beginning on 1 July 2019, "PPDA" is the payable dwelling amount for the financial year beginning on 1 July 2018, which is $1000; and • for the financial year beginning on 1 July 2020, "PPDA" is the adjusted payable dwelling amount for the financial year beginning on 1 July 2019. A is the sum of the producer price index numbers for— (a) the last reference period in the financial year 2 years earlier than the financial year in respect of which the adjusted payable dwelling amount is being determined; and (b) each of the reference periods (other than the last) in the financial year immediately preceding the financial year in respect of which the adjusted payable dwelling amount is being determined; B is the sum of the producer price index numbers for— (a) the last reference period in the financial year 3 years earlier than the financial year in respect of which the adjusted payable dwelling amount is being determined; and (b) each of the reference periods (other than the last) in the financial year 2 years earlier than the financial year in respect of which the adjusted payable dwelling amount is being determined. (2) The adjusted payable dwelling amount determined under subsection (1) is to be rounded up or down to the nearest $10 (and, if the amount by which the amount to be rounded is $5, is to be rounded up). ***adjusted payable dwelling amount*** means a payable dwelling amount adjusted in accordance with section 46LB(2); ***payable dwelling amount***—see section 46LB(1); ***producer price index*** means— (a) the producer price index for non‑residential building construction in Victoria as published by the Australian Bureau of Statistics; or (b) any other index specified by the Governor in Council by Order published in the Government Gazette. S. 46M inserted by No. 50/1995 s. 3.