On 25 March 2024, new regulations were passed to change the prescribed building levy threshold. From 1 July 2024, building work valued at less than $65,000, including GST, will be exempt from the building levy.

Building Performance (MBIE) has updated its webpages and published a revised version of the guidance document to explain how the building levy is calculated.

The guidance covers:

• The background and function of the building levy
• Levy rates and thresholds
• Payment and collection of the levy
• Calculating the building levy, including advice for calculations made during the transition period
• Clarifications on the estimated value of building work and amendments to such work
• Payment of the levy from territorial authorities to MBIE
• Refunding levy payments, including guidance on the 3 percent that territorial authorities are permitted to keep

For more information about the changes to the building levy and to access the guidance document and factsheets, visit the Building Performance website.