A new Bill was passed in Parliament on 10 May 2021.
Currently:
URA collects the Development Charge (DC) & Temporary Development Levy (TDL)
SLA collects the Differential premium (DP)
Change:
A single LBC (Land Betterment Charge) will replace the DC, TDL and DP and it will be collected by the SLA.
This will streamline the whole process so landowners and developers need only apply to one single government agency - the SLA - in future.
How will it be computed?
We shall see.
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