Land owners are eligible to be compensated for a range of matters.
After carefully considering the potential impact land acquisition can have on families and individuals, the Government has increased the maximum amount of compensation payable for non-financial impacts to $75,000 (up from $27,235). This type of compensation used to be called solatium.
The increase recognises the disruption and inconvenience of relocation including finding new schools, medical services and building new social networks.
The increased payment will apply retrospectively to former land owners whose acquisitions were settled on or after 26 February 2014.
How do I apply for retrospective compensation?
Land owners and tenants of properties acquired and settled on or after 26 February 2014 can find out more about applying for backdated compensation by visiting osr.nsw.gov.au/solatium or calling 1300 303 581.
How does the compensation process work?
The compensation process can be broken down into three categories:
- Acquisition by agreement
- Compulsory acquisition
- When compensation amount is not accepted
The individual steps involved in each category are outlined below. The timeframes associated with each depend on how long it takes for agreement to be reached between the land owner and the acquiring authority.
What can I be compensated for?