Once a lessee has entered into a deferral arrangement with the Commissioner for ACT Revenue, the ACT Revenue Office can provide a statement of account outlining the amount of the LVC plus any interest accrued to assist lessees with the management of the debt. Please email LVC@act.gov.au to request a statement of account.
Lessees can make payment of the LVC and interest at any time after the deferral arrangement has commenced. However, the deferred amount, including any accrued interest must be paid to the Commissioner no later than the earlier of:
- The date a certificate of occupancy is issued for part of the building work for the development to which the lease variation relates, if stated in the Schedule; or
- The date a certificate of occupancy is issued for all of the building work for the development to which the lease variation relates; or
- Four (4) years from the date of the execution of the lease variation; or
- The settlement date should the property or part thereof be sold.
Additional interest and penalty tax will accrue if full payment is not made by the due dates for payment.
The easiest way to pay the LVC is online via EFT.
A lessee can also arrange to pay by instalments by contacting LVC@act.gov.au.