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Ecove takes land tax hit at Olympic Park

Jul 25, 2018 - Australian Financial Review

The wrong use of a word has landed Sydney developer Ecove with a land tax bill it could have avoided, after a NSW planning tribunal ruled it had a "lease" over an Olympic Park development site, rather than a "licence".

Privately owned Ecove, which has already developed three residential towers in the 640-hectare space that hosted the 2000 Olympic and Paralympic games, faces the impost after the NSW Civil and Administrative Tribunal ruled its 2014 development agreement with Sydney Olympic P...