Australias largest private village operator, Living Choice, has reviewed the NSW draft regulations (that are due to come into effect on December 23) and concluded that three items alone will cost Living Choice $486,963 in the first year alone. The examples of the additional costs across its 5 NSW villages and 777 ILUs are:
External painting: its exclusion from Capital Maintenance will cost $318,963 per year or $410 per ILU every year going forward
Payroll Tax: the additional payroll cost to Living Choice will be $98,000
Legal fees: on lease/loan contracts: with a cap of $200 cost to the incoming resident, Living Choice state they will have to pay $1000 per new contract, which will be $70,000 per year
Graham Hobbs of living Choice states If these measures are made law, Living Choice will not make any further investments in NSW.