Australian Capital Territory
Planning and Development (Lease Variation Charge Deferred Payment Scheme) Determination 2018
Disallowable instrument DI2018–88
made under the  
Planning and Development Act 2007, s 279AA (1) (b) and (c) (Application to defer payment of lease variation charges) and s 279AC (2) (Conditions of deferral arrangement)

1	Name of instrument
This instrument is the Planning and Development (Lease Variation Charge Deferred Payment Scheme) Determination 2018.
2	Commencement 
This instrument commences on the commencement of the Planning and Development (Lease Variation Charge Deferred Payment Scheme) Amendment Act 2018, section 2.
3	Determination of amount to be deferred - s 279AA (1) (b)
For the purposes of the Planning and Development Act 2007, 
section 279AA (1) (b), I determine that the amount of the lease variation charge to be deferred is:
(1)	at least $100 000; or 
(2)	any amount, if DI2018-89 Planning and Development (Remission of Lease Variation Charges-Environmental Sustainability) Determination 2018 (No 2) applies. 
4	Determination of other conditions - s 279AC (2)
For the purposes of the Planning and Development Act 2007, 
section 279AC (2), I determine that – 
(1)	the rate of interest charged on the amount payable under the deferral arrangement is the sum of –
(a)	the market rate; and
(b)	a margin of 1.8 percentage points per annum;  
(2)	the interest chargeable on the amount payable shall be:
(a)	calculated from the date of the execution of the lease variation until the amount payable under the deferral arrangement is paid in full;
(b)	worked out:
(i)	for each month that the amount is deferred or unpaid;
(ii)	on the 1st day of that month; and
(iii)	at the interest rate applying to that day; and
(iv)	on the total amount payable that is deferred or unpaid on a day when the interest is worked out.
(3)	for sub-section (2)(b)(i) if an amount remains unpaid for part of a month, interest is payable for the whole month.
(4)	In this section:
amount payable means the amount of the lease variation charge that is deferred and includes:
(a)	any remission amount; 
(b)	the total of-
(i)	the costs and expenses reasonably incurred by the Territory in attempting to recover the lease variation charge and any other amounts payable under the deferral arrangement; and
(ii)	the interest chargeable at the rate specified in section 4 (1). 
market rate means the monthly 90-day bank bill rate worked out in accordance with the Taxation Administration Act 1999, section 26;
remission amount means the amount to be remitted under DI2018-89 Planning and Development (Remission of Lease Variation Charges-Environmental Sustainability) Determination 2018 (No 2), subject to the satisfaction of the requirements of the Determination.

Andrew Barr MLA
Treasurer

16 May 2018