Hugo: If you’re a Local Council needing to increase your general income above the rate peg, then you may want to consider applying to IPART for what’s called a Special Variation.
Applying for a ‘Special Variation’ can help improve your finances, replace ageing infrastructure or fund growth within your community.
There are 2 types of Special Variations that you can apply for under the Act.
Hugo writes: S508(2) - Single Year.
The first type (Section 508(2)) is an increase in a single year. For example, this would allow you to make the repayments for a loan for a new building.
Hugo writes: S508A - Up to 7 Years.
The second type (Section 508A) allows you to increase rates each year for up to 7 years. For example, you consider a staged approach to increases in rates, to be more acceptable.
Which ever Special Variation you apply for...
Hugo writes: 1 year.
You will need to allow a full year to get organised. We want to ensure that you have as much time as possible to prepare your application.
For more information, watch our video on ‘How to Apply for a Special Variation’.