|Long Service Levy|
What is the Long Service Levy
(Information from the Long Service Payments Corporation)
The New South Wales Parliament has put a levy on building and construction work costing $25,000 and above (inclusive of GST) in New South Wales. The levy is paid by the owners of a building or construction project into a fund administered by the Building and Construction Industry Long Service Payments Corporation, and from this fund, the Corporation makes long service payments to building and construction workers.
The Levy is payable for building and construction projects costing $25,000 or more (inclusive of GST) and is payable at local councils or at the Corporation.
For work requiring approval by a consenting or certifying authority, the consenting or certifying authority may determine the cost of the work for the purpose of calculating the levy payable or else the cost of the work is the contract price. The Corporation may also determine the cost of the building work where there is no contract price or the building work does not require approval by a consenting or certifying authority.
The current levy rate is 0.35 % of the value of building and construction works costing $25,000 or more (inclusive of GST).
Persons may appeal to the independent Building and Construction Industry Long Service Payments Committee if they disagree with a decision of the Corporation in relation to a levy payment.
Go to the Long Service Payments Corporation website for further information.