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State Taxation Acts and Other Acts Amendment
Act 2023
No. of 2023
TABLE OF PROVISIONS
Clause Page
Part 1--Preliminary 1
1 Purposes 1
2 Commencement 3
Part 2--Amendment of Duties Act 2000 4
3 Exemptions from holding controlling interests in foreign
corporations or substantial interests in trust estates of foreign
trusts 4
4 Exemptions and concessions--Division 2 4
5 Exemptions and concessions--Division 3 5
6 Exemptions and concessions--Division 3A 6
7 Exemptions and concessions--Division 4 7
8 Who is an eligible cardholder? 8
9 Eligible cardholder exemption or concession requirements 8
10 Election to receive eligible cardholder exemption/concession 9
11 How duty is charged on relevant acquisitions in public
landholders--concessional rate 10
12 Concession and exemptions for certain transactions arising out
of corporate reconstructions, corporate consolidations and
arrangements 10
Part 2A--Amendment of Fire Services Property Levy Act 2012 11
12A Amendment of Schedule 11
Part 3--Amendment of First Home Owner Grant and Home
Buyer Schemes Act 2000 12
13 Amount of grant 12
Part 4--Amendment of Local Government Act 1989 13
14 Definitions 13
Part 5--Amendment of Property Law Act 1958 14
15 Clause 9 of Schedule 3 amended 14
i
Clause Page
Part 6--Amendment of Sale of Land Act 1962 15
16 New sections 10G and 10H inserted 15
16A New section 58 inserted 19
Part 7--Amendment of Treasury Corporation of Victoria Act 1992 21
17 Statute law revision amendment 21
Part 8--Amendment of Valuation of Land Act 1960 22
18 Definitions 22
Part 9--Amendment of Windfall Gains Tax Act 2021 23
19 Definitions 23
20 Who is liable for windfall gains tax? 23
21 Exemptions in relation to rezoning errors 23
22 Exemptions in relation to rezonings underway before 15 May
2021 24
23 Waiver for charitable land 24
24 Secretary to provide rezoning information to Commissioner 25
Part 10--Amendment of Land Tax Act 2005 26
Division 1--Vacant residential land tax across Victoria 26
25 Definitions 26
26 Imposition of vacant residential land tax 26
27 Repeal of section 34D 26
27A What is the rate of land tax? 26
27B Holiday home exemption 27
28 Exemption for land occupied for purposes of attending place
of business or employment 27
28A New sections 88EA to 88EC inserted 28
29 Repeal of Schedule 2A 30
30 New clause 21 of Schedule 3 inserted 31
Division 2--Vacant residential land tax--unimproved land 32
31 Definitions 32
32 What is residential land? 33
33 New section 34BA inserted 34
34 When is residential land vacant? 35
34A What is the rate of land tax? 37
35 New sections 88F and 88G inserted 37
36 New Schedules 2B and 2C inserted 39
Division 3--Single COVID-19 debt temporary land tax surcharge
where land assessed on a single holding basis 41
37 Certain taxable land assessed separately 41
38 General land tax surcharge for trusts 42
ii
Clause Page
39 Land tax for discretionary trust with nominated beneficiary 42
40 Land tax surcharge for absentee trusts 43
41 Land tax for absentee discretionary trust with nominated
beneficiary 43
42 New clause 1.7 of Schedule 1 inserted 44
43 New clause 3.7 of Schedule 1 inserted 44
44 New clause 4.7 of Schedule 1 inserted 45
45 New clause 5.7 of Schedule 1 inserted 46
46 New Part 6 of Schedule 1 inserted 47
Division 4--Miscellaneous 48
47 Absentee exemption requirements 48
48 BTR special land tax--owner of land 49
Part 11--Repeal of this Act 50
49 Repeal of this Act 50
═════════════
Endnotes 51
1 General information 51
iii
State Taxation Acts and Other Acts
Amendment Act 2023
No. of 2023
[Assented to ]
The Parliament of Victoria enacts:
Part 1--Preliminary
1 Purposes
The purposes of this Act are--
(a) to amend the Duties Act 2000 in relation
to--
(i) reporting requirements for certain
exemptions granted by the Treasurer
under that Act; and
(ii) duty chargeable on transactions treated
as sub-sales of land; and
1
State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 1--Preliminary
(iii) the pensioner and concession card duty
reduction; and
(iv) concessional rates of duty for corporate
reconstructions; and
(ab) to amend the Fire Services Property Levy
Act 2012 in relation to the Australian
Valuation Property Classification Code for
certain land uses; and
(b) to amend the First Home Owner Grant and
Home Buyer Schemes Act 2000 in relation
to the first home owner grant; and
(c) to amend the Local Government Act 1989
to provide that the value of fixtures is
included in the capital improved value of
land; and
(d) to amend the Property Law Act 1958 in
relation to the apportionment of taxes under
a contract of sale of land; and
(e) to amend the Sale of Land Act 1962 in
relation to the apportionment of taxes under
a contract of sale of land; and
(f) to amend the Treasury Corporation of
Victoria Act 1992 to correct a minor
technical error; and
(g) to amend the Valuation of Land Act 1960
to provide that the value of fixtures is
included in the capital improved value of
land; and
(h) to amend the Windfall Gains Tax Act 2021
in relation to exemptions and waivers; and
(i) to amend the Land Tax Act 2005 in relation
to--
(i) the circumstances in which vacant
residential land tax is payable; and
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State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 1--Preliminary
(ii) the imposition of a single COVID-19
debt temporary land tax surcharge to
aggregated land which is otherwise
assessed on a single holding basis; and
(iii) reporting requirements for certain
exemptions granted by the Treasurer
under that Act; and
(iv) the formula for calculating the amount
of BTR special land tax payable by
owners of land; and
(j) to make other miscellaneous and technical
amendments to those Acts.
2 Commencement
(1) Subject to subsections (2), (3) and (4), this Act
comes into operation on the day after the day on
which it receives the Royal Assent.
(2) Parts 5 and 6, Division 3 of Part 10 and section 20
come into operation on 1 January 2024.
(3) Division 1 of Part 10 comes into operation on
1 January 2025.
(4) Division 2 of Part 10 comes into operation on
1 January 2026.
3
State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 2--Amendment of Duties Act 2000
Part 2--Amendment of Duties Act 2000
3 Exemptions from holding controlling interests in
foreign corporations or substantial interests in trust
estates of foreign trusts
In section 3E(3) of the Duties Act 2000, for
"6 months" substitute "12 months".
4 Exemptions and concessions--Division 2
After section 32G(4) of the Duties Act 2000
insert--
"(5) If the first purchaser would be entitled to a
concession under Part 2 of Chapter 11 if the
sale contract were a transfer to the first
purchaser, the first purchaser is entitled to
that concession in respect of duty charged
under section 32C(1)(a).
(6) Subject to subsection (7), a subsequent
purchaser is entitled to a concession under
Part 2 of Chapter 11 in respect of duty
charged under section 32C(1)(b) or (c) if--
(a) the subsequent purchaser would be
entitled to a concession under Part 2 of
Chapter 11 if the subsequent
transaction were a transfer to the
subsequent purchaser; and
(b) the subsequent purchaser obtained the
transfer right from--
(i) a first purchaser who is liable to
pay the amount of duty charged
under section 32C(1)(a); or
(ii) another subsequent purchaser who
is liable to pay the amount of duty
charged under section 32C(1)(c).
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State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 2--Amendment of Duties Act 2000
(7) If a subsequent purchaser would be entitled
to an exemption under section 250B(2) if the
subsequent transaction were a transfer to the
subsequent purchaser, the subsequent
purchaser is entitled to that exemption in
respect of duty charged under section
32C(1)(b) or (c).".
5 Exemptions and concessions--Division 3
After section 32N(4) of the Duties Act 2000
insert--
"(5) If the first purchaser would be entitled to a
concession under Part 2 of Chapter 11 if the
sale contract were a transfer to the first
purchaser, the first purchaser is entitled to
that concession in respect of duty charged
under section 32J(1)(a).
(6) Subject to subsection (7), a subsequent
purchaser is entitled to a concession under
Part 2 of Chapter 11 in respect of duty
charged under section 32J(1)(b) or (c) if--
(a) the subsequent purchaser would be
entitled to a concession under Part 2 of
Chapter 11 if the subsequent
transaction were a transfer to the
subsequent purchaser; and
(b) the subsequent purchaser obtained the
transfer right from--
(i) a first purchaser who is liable to
pay the amount of duty charged
under section 32J(1)(a); or
(ii) another subsequent purchaser who
is liable to pay the amount of duty
charged under section 32J(1)(c).
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State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 2--Amendment of Duties Act 2000
(7) If a subsequent purchaser would be entitled
to an exemption under section 250B(2) if the
subsequent transaction were a transfer to the
subsequent purchaser, the subsequent
purchaser is entitled to that exemption in
respect of duty charged under section
32J(1)(b) or (c).".
6 Exemptions and concessions--Division 3A
After section 32OE(4) of the Duties Act 2000
insert--
"(5) If the first purchaser would be entitled to a
concession under Part 2 of Chapter 11 if the
option were a transfer to the first purchaser,
the first purchaser is entitled to that
concession in respect of duty charged under
section 32OA(1)(a).
(6) Subject to subsection (7), a subsequent
purchaser is entitled to a concession under
Part 2 of Chapter 11 in respect of duty
charged under section 32OA(1)(b) or (c) if--
(a) the subsequent purchaser would be
entitled to a concession under Part 2 of
Chapter 11 if the subsequent
transaction were a transfer to the
subsequent purchaser; and
(b) the subsequent purchaser obtained the
transfer right from--
(i) a first purchaser who is liable to
pay the amount of duty charged
under section 32OA(1)(a); or
(ii) another subsequent purchaser who
is liable to pay the amount of duty
charged under section
32OA(1)(c).
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State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 2--Amendment of Duties Act 2000
(7) If a subsequent purchaser would be entitled
to an exemption under section 250B(2) if the
subsequent transaction were a transfer to the
subsequent purchaser, the subsequent
purchaser is entitled to that exemption in
respect of duty charged under section
32OA(1)(b) or (c).".
7 Exemptions and concessions--Division 4
After section 32U(4) of the Duties Act 2000
insert--
"(5) If the first purchaser would be entitled to a
concession under Part 2 of Chapter 11 if the
option were a transfer to the first purchaser,
the first purchaser is entitled to that
concession in respect of duty charged under
section 32Q(1)(a).
(6) Subject to subsection (7), a subsequent
purchaser is entitled to a concession under
Part 2 of Chapter 11 in respect of duty
charged under section 32Q(1)(b) or (c) if--
(a) the subsequent purchaser would be
entitled to a concession under Part 2 of
Chapter 11 if the subsequent
transaction were a transfer to the
subsequent purchaser; and
(b) the subsequent purchaser obtained the
transfer right from--
(i) a first purchaser who is liable to
pay the amount of duty charged
under section 32Q(1)(a); or
(ii) another subsequent purchaser who
is liable to pay the amount of duty
charged under section 32Q(1)(c).
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State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 2--Amendment of Duties Act 2000
(7) If a subsequent purchaser would be entitled
to an exemption under section 250B(2) if the
subsequent transaction were a transfer to the
subsequent purchaser, the subsequent
purchaser is entitled to that exemption in
respect of duty charged under section
32Q(1)(b) or (c).".
8 Who is an eligible cardholder?
(1) Insert the following heading to section 58 of the
Duties Act 2000--
"Who is an eligible cardholder?".
(2) For section 58(1) of the Duties Act 2000
substitute--
"(1) A person is an eligible cardholder for the
purposes of this Division if the
Commissioner is satisfied that the person
is--
(a) an eligible beneficiary within the
meaning of the State Concessions
Act 2004; or
(b) the holder of a Seniors Health Card
within the meaning of the Social
Security Act 1991 of the
Commonwealth.".
9 Eligible cardholder exemption or concession
requirements
After section 60AA(a) of the Duties Act 2000
insert--
"(ab) that each transferee is a natural person acting
only in their personal capacity; and
(ac) that each transferee is a bona fide purchaser
of an estate in fee simple in land for adequate
consideration; and
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State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 2--Amendment of Duties Act 2000
(ad) that each transferee has not received an
exemption, refund or rebate of duty in
respect of a transfer--
(i) under section 59 or 60 as in force
before the commencement of
Division 3 of Part 2 of the State
Taxation Acts Amendment Act 2023;
or
(ii) under section 71A of the Stamps
Act 1958; and".
10 Election to receive eligible cardholder
exemption/concession
(1) In the heading to section 60A of the Duties
Act 2000 omit "eligible cardholder".
(2) In section 60A(1) of the Duties Act 2000, for
"an eligible cardholder" substitute "a transferee
or, if more than one, transferees".
(3) In section 60A(2) of the Duties Act 2000, for
"The eligible cardholder" substitute "The
transferee or, if more than one, the transferees".
(4) In section 60A(3) of the Duties Act 2000--
(a) for "the eligible cardholder elects" substitute
"the transferee elects or, if there is more than
one transferee, the transferees elect";
(b) for "does not make" substitute "do not
make";
(c) for "he or she is" substitute "they are".
(5) Section 60A(4) of the Duties Act 2000 is
repealed.
9
State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 2--Amendment of Duties Act 2000
11 How duty is charged on relevant acquisitions in
public landholders--concessional rate
After section 87(3A) of the Duties Act 2000
insert--
"(3B) Subsection (1) does not apply to a relevant
acquisition in a public landholder that is
also--
(a) an eligible transaction to which
section 250B applies; or
(b) a relevant acquisition to which
section 250DI applies.".
12 Concession and exemptions for certain transactions
arising out of corporate reconstructions, corporate
consolidations and arrangements
In section 250B(2)(c) and (3A)(c) of the Duties
Act 2000, for "30 days after" substitute "the
period of 30 days beginning on and including".
10
State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 2A--Amendment of Fire Services Property Levy Act 2012
Part 2A--Amendment of Fire Services
Property Levy Act 2012
12A Amendment of Schedule
(1) In item 3 of the Table in the Schedule to the Fire
Services Property Levy Act 2012, for "615−623,
626−637," substitute "615−620, 623, 628−637,".
(2) In item 5 of the Table in the Schedule to the Fire
Services Property Levy Act 2012, for
"640-642," substitute "621, 622, 626, 627,
640−642,".
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State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 3--Amendment of First Home Owner Grant and Home Buyer Schemes
Act 2000
Part 3--Amendment of First Home Owner
Grant and Home Buyer Schemes Act 2000
13 Amount of grant
In section 18(5) of the First Home Owner Grant
and Home Buyer Schemes Act 2000--
(a) for "an eligible pensioner (within the
meaning of the Duties Act 2000) to whom
section 60A(2) of that Act" substitute
"a transferee to whom section 60A(2) of the
Duties Act 2000";
(b) for "section 59 or 60" substitute
"section 60".
12
State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 4--Amendment of Local Government Act 1989
Part 4--Amendment of Local Government
Act 1989
14 Definitions
In section 3(1) of the Local Government
Act 1989, for the definition of capital improved
value substitute--
"capital improved value has the same meaning as
in section 2(1) of the Valuation of Land
Act 1960;".
13
State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 5--Amendment of Property Law Act 1958
Part 5--Amendment of Property Law
Act 1958
15 Clause 9 of Schedule 3 amended
(1) In clause 9 of Schedule 3 to the Property Law
Act 1958, for "taxes," substitute "taxes
(other than tax payable under the Land Tax
Act 2005 and tax payable under a notice of
assessment issued on or before the date of the
contract in respect of a liability arising under the
Windfall Gains Tax Act 2021),".
(2) In clause 9 of Schedule 3 to the Property Law
Act 1958 omit "In the case of land tax any such
apportionment shall be computed on the basis that
the land sold is the only land of which the vendor
is the owner within the meaning of the Land Tax
Act 2005.".
(3) In clause 9 of Schedule 3 to the Property Law
Act 1958 after "disregarded." insert "The vendor
must not require the purchaser to pay any amount
for or towards tax for which the vendor is or may
become liable under the Land Tax Act 2005 or
for which the vendor is liable under a notice of
assessment issued on or before the date of the
contract in respect of a liability arising under the
Windfall Gains Tax Act 2021.".
14
State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 6--Amendment of Sale of Land Act 1962
Part 6--Amendment of Sale of Land
Act 1962
16 New sections 10G and 10H inserted
After section 10F of the Sale of Land Act 1962
insert--
"10G Prohibition on recovering land tax under
contract of sale of land
(1) A provision of a contract of sale of land for a
sale price less than the threshold amount is
of no effect to the extent that the provision
purports to require the purchaser under the
contract to pay an amount for or towards tax
for which the vendor is or may become liable
in respect of the land under the Land Tax
Act 2005.
(2) A vendor must not enter into a contract of
sale of land for a sale price less than the
threshold amount if the contract purports to
require the purchaser under the contract to
pay an amount for or towards tax for which
the vendor is or may become liable in respect
of the land under the Land Tax Act 2005.
Penalty: For a natural person, 60 penalty
units;
For a body corporate, 300 penalty
units.
(3) In this section--
sale price, in relation to a contract, means
the price of the land that is specified in
the contract, however expressed, less
any discount or rebate that is specified
in the contract, whether or not the
discount or rebate is contingent;
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State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 6--Amendment of Sale of Land Act 1962
threshold amount has the meaning given in
section 10I.
10H Prohibition on recovering windfall gains
tax under option or contract of sale of
land
(1) A provision of an option to enter into a
contract of sale of land is of no effect to the
extent that the provision purports to require
the purchaser under the contract of sale of
land to pay an amount for or towards tax
payable under an existing windfall gains tax
liability in respect of the land.
(2) A person must not grant an option to enter
into a contract of sale in respect of land if--
(a) there is an existing windfall gains tax
liability in respect of the land; and
(b) the option purports to require the
purchaser of the land to pay an amount
for or towards the tax payable under the
windfall gains tax liability.
Penalty: For a natural person, 60 penalty
units;
For a body corporate, 300 penalty
units.
(3) A provision of a contract of sale of land is of
no effect to the extent that the provision
purports to require the purchaser under the
contract to pay an amount for or towards tax
payable under an existing windfall gains tax
liability in respect of the land.
(4) A vendor must not enter into a contract of
sale of land if--
(a) there is an existing windfall gains tax
liability in respect of the land; and
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No. of 2023
Part 6--Amendment of Sale of Land Act 1962
(b) the contract purports to require the
purchaser of the land to pay an amount
for or towards tax payable under the
windfall gains tax liability.
Penalty: For a natural person, 60 penalty
units;
For a body corporate, 300 penalty
units.
(5) In this section--
windfall gains tax liability means a liability
for an amount of tax--
(a) arising under the Windfall Gains
Tax Act 2021; and
(b) specified in a notice of assessment
served on any person under
section 14 of the Taxation
Administration Act 1997.
10I CPI adjusted threshold amount
(1) The threshold amount for a calendar year is
to be determined in accordance with the
following formula--
(a) for a contract entered into on or after
1 January 2024 and on or before
31 December 2024, $10 000 000;
(b) for each subsequent calendar year, the
amount determined in accordance with
the following formula--
A×B
TA =
C
where--
TA is the threshold amount being
determined for a calendar year;
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State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 6--Amendment of Sale of Land Act 1962
A is the amount of the threshold
amount for the previous calendar
year, as rounded up or down in
accordance with subsection (2);
B is the sum of--
(a) the consumer price index
number for the last reference
period in the calendar year
preceding the previous
calendar year; and
(b) the total of the consumer
price index numbers for each
of the reference periods
(other than the last) in the
previous calendar year;
C is the sum of--
(a) the consumer price index
number for the last reference
period in the calendar year
one year earlier than the
calendar year referred to in
paragraph (a) of B; and
(b) the total of the consumer
price index numbers for each
of the reference periods
(other than the last) in the
calendar year one year
earlier than the calendar year
referred to in paragraph (b)
of B.
Example
In the case of a determination of the threshold
amount for 2025, "A" is the threshold amount
for 2024, "B" is the sum of the consumer price
index numbers for December 2023, March
2024, June 2024 and September 2024 and "C"
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State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 6--Amendment of Sale of Land Act 1962
is the sum of the consumer price index numbers
for December 2022, March 2023, June 2023
and September 2023.
(2) The threshold amount determined under
subsection (1)(b) is to be rounded up or
down to the nearest $100 000 and, if the
amount of the CPI to be adjusted is an exact
multiple of $50 000, is to be rounded up.
(3) The Director of Consumer Affairs must
publish the threshold amount for a calendar
year on an appropriate website on or before
1 December in the calendar year preceding
the relevant calendar year.
(4) A failure to comply with subsection (3) in
respect of a calendar year does not affect the
operation of section 10G in respect of the
threshold amount for that year.
(5) In this section--
consumer price index means the all groups
consumer price index weighted average
of eight capital cities in original terms
published by the Australian Bureau of
Statistics as at 15 November
immediately preceding the date on
which the Director of Consumer Affairs
publishes the threshold amount under
subsection (3).".
16A New section 58 inserted
After section 57 of the Sale of Land Act 1962
insert--
"58 Apportionment of amounts under
contracts of sale of land
(1) Section 10G does not apply to a contract of
sale of land entered into before
1 January 2024.
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State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 6--Amendment of Sale of Land Act 1962
(2) Section 10H does not apply to any of the
following--
(a) a contract of sale of land entered into
before 1 January 2024;
(b) an option to enter into a contract of sale
of land granted before 1 January 2024;
(c) a contract of sale of land entered into
on or after 1 January 2024 under the
exercise of an option that was granted
before 1 January 2024.".
20
State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 7--Amendment of Treasury Corporation of Victoria Act 1992
Part 7--Amendment of Treasury
Corporation of Victoria Act 1992
17 Statute law revision amendment
In Schedule 1 to the Treasury Corporation of
Victoria Act 1992, in Column 2, for "Transport
Integration 2010" substitute "Transport
Integration Act 2010".
21
State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 8--Amendment of Valuation of Land Act 1960
Part 8--Amendment of Valuation of Land
Act 1960
18 Definitions
(1) In section 2(1) of the Valuation of Land
Act 1960 insert the following definition--
"fixture, on land, means any of the following,
whether owned by the owner of the land or a
tenant or any other occupier of the land--
(a) anything that constitutes a fixture at
law;
(b) any other item fixed to the land;".
(2) After section 2(2A) of the Valuation of Land
Act 1960 insert--
"(2B) In determining the capital improved value of
any land, the sum which the land might be
expected to realize at the time of valuation
includes the value of the fixtures on the
land.".
22
State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 9--Amendment of Windfall Gains Tax Act 2021
Part 9--Amendment of Windfall Gains Tax
Act 2021
19 Definitions
In section 3(1) of the Windfall Gains Tax
Act 2021--
(a) in the definition of charitable land, after
"land" insert ", or part of land,";
(b) in the definition of excluded rezoning, for
paragraph (c) substitute--
"(c) the first rezoning of land that was in the
contribution area within the meaning of
section 201RC of the Planning and
Environment Act 1987 immediately
before that rezoning; or".
20 Who is liable for windfall gains tax?
At the foot of section 8 of the Windfall Gains
Tax Act 2021 insert the following note--
"Note
The owner of land must not purport to require the purchaser
under an option to purchase the land or a contract of sale of
the land to pay an amount for or towards an assessed
windfall gains tax liability. See section 10H of the Sale of
Land Act 1962.".
21 Exemptions in relation to rezoning errors
(1) In section 38(1) of the Windfall Gains Tax
Act 2021--
(a) after "if" insert "the Commissioner is
satisfied that";
(b) for "prepared under section 20A of the
Planning and Environment Act 1987"
substitute "(whether prepared under
section 20A of the Planning and
Environment Act 1987 or otherwise)".
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State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 9--Amendment of Windfall Gains Tax Act 2021
(2) After section 38(1) of the Windfall Gains
Tax Act 2021 insert--
"(1A) The Commissioner may consult the
Secretary to the Department of Transport and
Planning in determining whether a rezoning
is a correcting WGT event.".
(3) After section 38(3) of the Windfall Gains
Tax Act 2021 insert--
"(3A) If a rezoning consists partly of a correcting
WGT event and partly of a rezoning that is
not a correcting WGT event in relation to the
same land--
(a) any value uplift attributable to the
correcting WGT event is to be ignored
in assessing any windfall gains tax on
the land; and
(b) for that purpose the Commissioner
must seek the advice of the
Valuer-General as to the amount of
value uplift attributable to the
correcting WGT event.".
22 Exemptions in relation to rezonings underway
before 15 May 2021
In section 40(3) of the Windfall Gains Tax
Act 2021, in the definition of Amendment
Tracking System, for "Environment, Land,
Water" substitute "Transport".
23 Waiver for charitable land
In section 41(1) of the Windfall Gains Tax
Act 2021, after "the land" insert ", or relevant part
of the land,".
24
State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 9--Amendment of Windfall Gains Tax Act 2021
24 Secretary to provide rezoning information to
Commissioner
In section 43 of the Windfall Gains Tax
Act 2021, for "Environment, Land, Water"
substitute "Transport".
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State Taxation Acts and Other Acts Amendment Act 2023
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Part 10--Amendment of Land Tax Act 2005
Part 10--Amendment of Land Tax Act 2005
Division 1--Vacant residential land tax across
Victoria
25 Definitions
In section 3(1) of the Land Tax Act 2005, in the
definition of VRT land--
(a) in paragraph (b), for "section 34C; and"
substitute "section 34C;";
(b) paragraph (c) is repealed.
26 Imposition of vacant residential land tax
For section 34A(1) of the Land Tax Act 2005
substitute--
"(1) Vacant residential land tax is imposed each
year on taxable land in Victoria that is
residential land which is vacant.".
27 Repeal of section 34D
Section 34D of the Land Tax Act 2005 is
repealed.
27A What is the rate of land tax?
For section 35(3) of the Land Tax Act 2005
substitute--
"(3) Subject to section 88EB, the rate of vacant
residential land tax is--
(a) if the land was not liable for vacant
residential land tax in the preceding tax
year--1%; or
(b) if the land was liable for vacant
residential land tax in the preceding tax
year but not the tax year preceding that
tax year--2%; or
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Part 10--Amendment of Land Tax Act 2005
(c) if the land was liable for vacant
residential land tax in the last
2 preceding tax years--3%.
Note
For the purposes of the vacant residential land tax, the
taxable value of the land is the capital improved value
of the land as at the relevant date--see section
19(1A).".
27B Holiday home exemption
For section 88A(1)(a) of the Land Tax Act 2005
substitute--
"(a) in the year preceding the tax year--
(i) the owner of the land or a vested
beneficiary of a trust to which the land
is subject used and occupied other land
in Australia as a principal place of
residence; and
(ii) the owner of the land or a vested
beneficiary of a trust to which the land
is subject, or a relative of the owner or
vested beneficiary, used and occupied
the land as a holiday home for a period
of at least 4 weeks (whether continuous
or aggregate); and".
28 Exemption for land occupied for purposes of
attending place of business or employment
In section 88B(1)(b) of the Land Tax Act 2005,
for "the specified geographic area (within the
meaning of section 34D)" substitute "Victoria".
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State Taxation Acts and Other Acts Amendment Act 2023
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Part 10--Amendment of Land Tax Act 2005
28A New sections 88EA to 88EC inserted
After section 88E of the Land Tax Act 2005
insert--
"88EA Land becomes residential land during
third year preceding tax year and has not
been used or occupied or changed
ownership
(1) Land is exempt from vacant residential land
tax for a tax year if--
(a) at the commencement of the third year
preceding the tax year the land was not
residential land within the meaning of
section 34B(1); and
(b) during the third year preceding the tax
year the land becomes residential land
within the meaning of section 34B(1);
and
(c) during the second year preceding the
tax year the land is exempt from vacant
residential land tax under section 88D;
and
(d) during the year immediately preceding
the tax year the land is exempt from
vacant residential land tax under
section 88E; and
(e) for the period from which the land
becomes residential land within the
meaning of section 34B(1) up to the tax
year--
(i) the land has not been used or
occupied; and
(ii) the land has not changed
ownership; and
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Part 10--Amendment of Land Tax Act 2005
(f) the Commissioner is satisfied that
during the period referred to in
paragraph (e) the owner of the land
made genuine attempts to sell the land
at or below the price that they expected
to receive when construction
commenced on the land.
(2) To obtain an exemption from vacant
residential land tax under this section, the
owner of the land must--
(a) apply to the Commissioner for the
exemption on or before 15 January of
the tax year; and
(b) give the Commissioner any information
the Commissioner requests for the
purpose of enabling the Commissioner
to determine whether the land is exempt
from vacant residential land tax under
this section.
88EB Residential land that has not been used or
occupied or changed ownership for more
than 3 years
(1) Land is eligible for a concessional rate of
vacant residential land tax of 1% for a tax
year if--
(a) in a preceding tax year, the land
becomes residential land within the
meaning of section 34B(1); and
(b) in a tax year after the tax year referred
to in paragraph (a) but preceding the
tax year, the land is exempt from land
tax under section 88EA; and
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Part 10--Amendment of Land Tax Act 2005
(c) for the period from which the land
becomes residential land within the
meaning of section 34B(1) up to the tax
year--
(i) the land has not been used or
occupied; and
(ii) the land has not changed
ownership.
88EC Publication of report on exemptions and
concession
(1) The Commissioner must publish on the
Commissioner's website an annual report of
the following information for the 12 month
period to which the report relates--
(a) for each postcode in Victoria, the
number of--
(i) exemptions granted under each of
sections 88D, 88E and 88EA; and
(ii) concessions granted under section
88EB;
(b) the total amount of vacant residential
land tax that was not payable because
of the grant of the exemptions and the
concessions referred to in
paragraph (a).".
29 Repeal of Schedule 2A
Schedule 2A of the Land Tax Act 2005 is
repealed.
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State Taxation Acts and Other Acts Amendment Act 2023
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Part 10--Amendment of Land Tax Act 2005
30 New clause 21 of Schedule 3 inserted
After clause 20 of Schedule 3 to the Land Tax
Act 2005 insert--
"21 State Taxation Acts and Other Acts
Amendment Act 2023
(1) For the purposes of section 34C(2), the date
of commencement of the construction or
renovation of a residence on land is taken to
be 31 December 2023 if--
(a) the land is not within a specified
geographic area within the meaning of
section 34D, as in force immediately
before its repeal by the amending Act;
and
(b) on 31 December 2023 the land was
residential land within the meaning of
section 34B(2).
(2) For the purposes of section 34C(2A), the
date on which a residence on land became
uninhabitable is taken to be
31 December 2023 if--
(a) the land is not within a specified
geographic area within the meaning of
section 34D, as in force immediately
before its repeal by the amending Act;
and
(b) on 31 December 2023 the land was
residential land within the meaning of
section 34B(2A).
(3) In this clause--
amending Act means the State Taxation
Acts and Other Acts Amendment
Act 2023.".
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State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 10--Amendment of Land Tax Act 2005
Division 2--Vacant residential land tax--
unimproved land
31 Definitions
(1) In section 3(1) of the Land Tax Act 2005 insert
the following definitions--
"AVPCC means an Australian Valuation Property
Classification Code based on the Valuation
Best Practice Specifications Guidelines;
non-residential use means a land use described in
an AVPCC in the following ranges--
(a) 210 to 299;
(b) 310 to 399;
(c) 410 to 499;
(d) 510 to 599;
(e) 610 to 699;
(f) 710 to 799;
(g) 810 to 899;
(h) 910 to 999;
non-residential zone means a zone listed in
Schedule 2C;
planning scheme means a planning scheme in
force under the Planning and Environment
Act 1987;
zone means a zone under a planning scheme.".
(2) In section 3(1) of the Land Tax Act 2005, in the
definition of year, for "calendar year." substitute
"calendar year;".
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Part 10--Amendment of Land Tax Act 2005
32 What is residential land?
(1) Section 34B(2)(b) of the Land Tax Act 2005 is
repealed.
(2) After section 34B(2A) of the Land Tax Act 2005
insert--
"(2B) Land is also residential land for the
purposes of this Division if the land--
(a) is within a municipal district of a
Council listed in Schedule 2B; and
(b) is within a zone other than a non-
residential zone; and
(c) is not solely or primarily used for or
under development for a non-residential
use; and
(d) is not land referred to in subsection (1),
(2) or (2A).".
(3) After section 34B(3) of the Land Tax Act 2005
insert--
"(4) Despite subsection (2B), land is not
residential land within the meaning of that
subsection if the Commissioner determines
that--
(a) the land is intended to be solely or
primarily used or developed for a non-
residential use; and
(b) there is an acceptable reason for the
land not yet being used or developed in
that way.
Example
There are delays in the development of the land that
are outside of the owner's control.".
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Part 10--Amendment of Land Tax Act 2005
33 New section 34BA inserted
After section 34B of the Land Tax Act 2005
insert--
"34BA When is land under development for a
non-residential use?
(1) For the purposes of section 34B(2B)(c), land
is under development for a non-residential
use if--
(a) an application is made for a permit
under the Planning and Environment
Act 1987 in relation to the use or
development of the land for a non-
residential use; or
(b) a request is made under the Planning
and Environment Act 1987 for an
amendment to a planning scheme that
would authorise a non-residential use of
the land; or
(c) an application is made for a permit or
approval under the Building Act 1993
in relation to the use or development of
the land for a non-residential use.
(2) Despite subsection (1), the Commissioner
may determine that--
(a) land that is not subject to an application
or request described in that subsection
is being developed for a non-residential
use if the Commissioner is satisfied that
other steps are being taken for that
purpose; or
Example
Land that is subject to remediation or other
works to prepare the land for development prior
to an application or request being made under
subsection (1).
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Part 10--Amendment of Land Tax Act 2005
(b) land that is subject to an application or
request described in that subsection is
not being developed for a non-
residential use if the Commissioner
considers that the application or request
was made to obtain a reduction in, or
exemption from, vacant residential land
tax.
Example
The owner of land applies for a permit under
the Planning and Environment Act 1987 in
relation to the use or development of the land
for a non-residential use but has no intention of
using or developing the land in accordance with
the permit.
(3) The commencement date of the development
of land for a non-residential use is--
(a) the date on which the application or
request referred to in subsection (1) is
made; or
(b) in the case of land referred to in
subsection (2)(a), a date determined by
the Commissioner.".
34 When is residential land vacant?
(1) After section 34C(2A) of the Land Tax Act 2005
insert--
"(2B) For the purposes of this Division, residential
land referred to in section 34B(2B) is vacant
in a tax year if, at the end of the year
preceding the tax year, the land has satisfied
the requirements in section 34B(2B) for a
continuous period of 5 years or more.".
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State Taxation Acts and Other Acts Amendment Act 2023
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Part 10--Amendment of Land Tax Act 2005
(2) After section 34C(4A) of the Land Tax Act 2005
insert--
"(4B) Despite subsection (2B), residential land
referred to in section 34B(2B) is not vacant
in a tax year if the Commissioner determines
that a residence is to be constructed on the
land and there is an acceptable reason for the
construction not having commenced.
Example
There are delays in the development of the land that
are outside of the owner's control.
(4C) For the purposes of assessing whether land
has satisfied the requirements of section
34B(2B) for a continuous period of 5 years,
any tax year in which there was a change of
ownership in the land is taken to be a break
in the period, unless the Commissioner
considers that the land was transferred to
obtain a reduction in, or exemption from,
vacant residential land tax.
(4D) In making a determination under
subsection (4B), the Commissioner must
have regard to guidelines issued by the
Treasurer under this section.
(4E) The Treasurer must issue guidelines for the
exercise of the Commissioner's discretion
under subsection (4B) and cause those
guidelines to be published in the
Government Gazette.
(4F) Guidelines issued under subsection (4E) are
not a legislative instrument within the
meaning of the Subordinate Legislation
Act 1994.".
36
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No. of 2023
Part 10--Amendment of Land Tax Act 2005
34A What is the rate of land tax?
For section 35(3)(a), (b) and (c) of the Land Tax
Act 2005 substitute--
"(a) for residential land within the meaning of
section 34B(2B)--1%; or
(b) for any other land--
(i) if the land was not liable for vacant
residential land tax in the preceding tax
year--1%; or
(ii) if the land was liable for vacant
residential land tax in the preceding tax
year but not the tax year preceding that
tax year--2%; or
(iii) if the land was liable for vacant
residential land tax in the last
2 preceding tax years--3%.".
35 New sections 88F and 88G inserted
After section 88E of the Land Tax Act 2005
insert--
"88F Land contiguous to land used as a
principal place of residence
(1) Land referred to in section 34B(2B) is
exempt from vacant residential land tax if the
land--
(a) is owned by the owner of PPR land;
and
(b) is contiguous with the PPR land or
separated from the PPR land only by a
road or railway or other similar area
across or around which movement is
reasonably possible; and
(c) enhances the PPR land; and
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Part 10--Amendment of Land Tax Act 2005
(d) is used solely for the private benefit and
enjoyment of the person who uses and
occupies the PPR land.
(2) In this section--
PPR land means land referred to in
section 54(1)(a), (ab) and (b).
88G Land that cannot be used or developed for
residential purposes
(1) Land referred to in section 34B(2B) is
exempt from vacant residential land tax if the
Commissioner is satisfied that the land
cannot be used or developed for residential
purposes.
(2) For the purposes of subsection (1), the
Commissioner may have regard to the
following--
(a) any physical attributes of the land
which render it incapable of use or
development for residential purposes,
including any of the following--
(i) the size and shape of the land;
(ii) the natural features of the land;
(iii) the environmental condition of the
land;
(b) any matter which prohibits the lawful
use or development of the land for
residential purposes, including any of
the following--
(i) the planning scheme which
applies to the land;
(ii) a restrictive covenant which
applies to the land;
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Part 10--Amendment of Land Tax Act 2005
(iii) an environmental action notice,
improvement notice or prohibition
notice issued in respect of the land
under the Environment
Protection Act 2017.".
36 New Schedules 2B and 2C inserted
Before Schedule 3 to the Land Tax Act 2005
insert--
"Schedule 2B--Metropolitan
Melbourne
Section 34B(2B)(a)
Banyule City Council
Bayside City Council
Boroondara City Council
Brimbank City Council
Cardinia Shire Council
Casey City Council
Greater Dandenong City Council
Darebin City Council
Frankston City Council
Glen Eira City Council
Hobsons Bay City Council
Hume City Council
Kingston City Council
Knox City Council
Manningham City Council
Maribyrnong City Council
Maroondah City Council
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State Taxation Acts and Other Acts Amendment Act 2023
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Part 10--Amendment of Land Tax Act 2005
Melbourne City Council
Melton City Council
Merri-bek City Council
Monash City Council
Moonee Valley City Council
Mornington Peninsula Shire Council
Nillumbik Shire Council
Port Phillip City Council
Stonnington City Council
Whitehorse City Council
Whittlesea City Council
Wyndham City Council
Yarra City Council
Yarra Ranges Shire Council
Schedule 2C--Planning scheme
zones
Section 3(1)
Commercial 2 Zone (C2Z)
Commercial 3 Zone (C3Z)
Comprehensive Development Zone
(CDZ)
Farming Zone (FZ)
Green Wedge Zone (GWZ)
Green Wedge Zone A (GWAZ)
Industrial 1 Zone (IN1Z)
Industrial 2 Zone (IN2Z)
Industrial 3 Zone (IN3Z)
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State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 10--Amendment of Land Tax Act 2005
Port Zone (PZ)
Priority Development Zone (PDZ)
Public Use Zone (PUZ)
Public Park and Recreation Zone
(PPRZ)
Public Conservation and Resource
Zone (PCRZ)
Rural Activity Zone (RAZ)
Rural Conservation Zone (RCZ)
Rural Living Zone (RLZ)
Special Use Zone (SUZ)
Transport Zone (TRZ)
Urban Growth Zone (UGZ)
Urban Floodway Zone (UFZ)".
Division 3--Single COVID-19 debt temporary land
tax surcharge where land assessed on a
single holding basis
37 Certain taxable land assessed separately
(1) In section 37(3) of the Land Tax Act 2005, after
"land tax in" insert "Part 1, 3, 4 or 5 of".
(2) After section 37(3) of the Land Tax Act 2005
insert--
"(3A) There is to be added to the land tax assessed
on the total taxable value of all land referred
to in subsection (1) the amount (if any)
determined by applying the applicable rate in
Part 6 of Schedule 1 to the total taxable value
of the land.".
41
State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 10--Amendment of Land Tax Act 2005
38 General land tax surcharge for trusts
After section 46A(6) of the Land Tax Act 2005
insert--
"(7) There is to be added to the land tax payable
by the trustee under subsection (2) on the
whole of the land subject to the scheme or
trust the amount (if any) determined by
applying the applicable rate in Part 6 of
Schedule 1 to the total taxable value of the
land if--
(a) in the case of a unit trust scheme that is
not an absentee trust, the scheme has a
nomination in force under section 46H;
or
(b) in the case of a discretionary trust that
is not an absentee trust, the trust--
(i) has a nomination in force under
section 46H; and
(ii) does not have a nomination in
force under section 46F.".
39 Land tax for discretionary trust with nominated
beneficiary
After section 46G(5) of the Land Tax Act 2005
insert--
"(5A) If the trust also has a nomination in force
under section 46H, there is to be added to the
land tax payable by the trustee under
subsection (3) on the whole of the land
subject to the trust the amount (if any)
determined by applying the applicable rate in
Part 6 of Schedule 1 to the total taxable value
of the land.".
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State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 10--Amendment of Land Tax Act 2005
40 Land tax surcharge for absentee trusts
After section 46IA(2) of the Land Tax Act 2005
insert--
"(2A) There is to be added to the land tax payable
by the trustee under subsection (1A) or (1B)
on the whole of the land subject to the
absentee trust the amount (if any) determined
by applying the applicable rate in Part 6 of
Schedule 1 to the total taxable value of the
land if--
(a) in the case of an absentee trust that is a
unit trust scheme, the scheme has a
nomination in force under section 46H;
or
(b) in the case of an absentee trust that is a
discretionary trust, the trust--
(i) has a nomination in force under
section 46H; and
(ii) does not have a nomination in
force under section 46F.".
41 Land tax for absentee discretionary trust with
nominated beneficiary
After section 46IE(6) of the Land Tax Act 2005
insert--
"(7) If the trust also has a nomination in force
under section 46H, there is to be added to the
land tax payable by the trustee under
subsection (3) on the whole of the land
subject to the trust the amount (if any)
determined by applying the applicable rate in
Part 6 of Schedule 1 to the total taxable value
of the land.".
43
State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 10--Amendment of Land Tax Act 2005
42 New clause 1.7 of Schedule 1 inserted
After clause 1.6 of Schedule 1 to the Land Tax
Act 2005 insert--
"1.7 Rate of land tax for land assessed under
certain sections for 2024 to 2033
Despite anything to the contrary in this
Schedule, the rate of land tax assessed under
the following sections for each of the years
from 2024 to 2033 is the rate set out in
Table 1.5--
(a) section 37(3), if the owner of land
would otherwise be subject to land tax
at the rate set out in Table 1.6;
(b) section 46G(3)(a), if there is a
nomination under section 46H in force;
(c) section 46G(4) for the variable R1, if
there is a nomination under section 46H
in force;
(d) section 46I(2);
(e) section 46IF(2A)(a).".
43 New clause 3.7 of Schedule 1 inserted
After clause 3.6 of Schedule 1 to the Land Tax
Act 2005 insert--
"3.7 Rate of land tax for land assessed under
certain sections for 2024 to 2033
Despite anything to the contrary in this
Schedule, the rate of land tax assessed under
the following sections for each of the years
from 2024 to 2033 is the rate set out in
Table 3.5--
44
State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 10--Amendment of Land Tax Act 2005
(a) section 37(3), if the owner of land
would otherwise be subject to land tax
at the rate set out in Table 3.6;
(b) section 46A(1), if there is a nomination
under section 46H in force;
(c) section 46G(3)(b), if there is a
nomination under section 46H in force;
(d) section 46G(4) for the variable R2, if
there is a nomination under section 46H
in force;
(e) section 46IF(2A)(b).".
44 New clause 4.7 of Schedule 1 inserted
After clause 4.6 of Schedule 1 to the Land Tax
Act 2005 insert--
"4.7 Rate of land tax for land assessed under
certain sections for 2024 to 2033
Despite anything to the contrary in this
Schedule, the rate of land tax assessed under
the following sections for each of the years
from 2024 to 2033 is the rate set out in
Table 4.6--
(a) section 37(3), if the owner of land
would otherwise be subject to land tax
at the rate set out in Table 4.5;
(b) section 46IF(2)(a);
(c) section 46IE(3)(a), if there is a
nomination under section 46H in force;
(d) section 46IE(4) for the variable R1, if
there is a nomination under section 46H
in force.".
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State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 10--Amendment of Land Tax Act 2005
45 New clause 5.7 of Schedule 1 inserted
After clause 5.6 of Schedule 1 to the Land Tax
Act 2005 insert--
"5.7 Rate of land tax for land assessed under
certain sections for 2024 to 2033
Despite anything to the contrary in this
Schedule, the rate of land tax assessed under
the following sections for each of the years
from 2024 to 2033 is the rate set out in
Table 5.6--
(a) section 37(3), if the owner of land
would otherwise be subject to land tax
at the rate set out in Table 5.5;
(b) section 46IE(3)(b), if there is a
nomination under section 46H in force;
(c) section 46IE(4) for the variable R2, if
there is a nomination under section 46H
in force;
(d) section 46IF(2)(b).".
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State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 10--Amendment of Land Tax Act 2005
46 New Part 6 of Schedule 1 inserted
After Part 5 of Schedule 1 to the Land Tax
Act 2005 insert--
"Part 6--Determining COVID-19
debt temporary surcharge if land
has been assessed on single
holding basis
6.1 Surcharge for land subject to rates of land
tax set out in Parts 1 and 4 of this
Schedule
(1) This clause applies if--
(a) an amount is being determined under
section 37(3A), 46G(5A) or 46IE(7) in
respect of land; and
(b) any ofthe land (other than land in
respect of which a nomination under
section 46H is in force) is subject to
land tax at the applicable rate under
Part 1 or 4 of this Schedule.
(2) The rate for determining the amount for each
of the years from 2024 to 2033 is set out in
Table 6.1.
Table 6.1
Column 1 Column 2 Column 3
Taxable Taxable
value not value less Rate of land tax
Item less than than surcharge
1 0 50 000 Nil
2 50 000 100 000 $500
3 100 000 300 000 $975
4 300 000 $975 and 01% of the
taxable value that
exceeds $300 000
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State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 10--Amendment of Land Tax Act 2005
6.2 Owners of land subject to rates of land tax
set out in Parts 3 and 5 of this Schedule
(1) This clause applies if--
(a) an amount is being determined under
section 37(3A), 46A(7), 46G(5A),
46IA(2A) or 46IE(7) in respect of land;
and
(b) all of the land (other than land in
respect of which a nomination under
section 46H is in force) is subject to
land tax at the applicable rate under
Part 3 or 5 of this Schedule.
(2) The rate for determining the amount for each
of the years from 2024 to 2033 is set out in
Table 6.2.
Table 6.2
Column 1 Column 2 Column 3
Taxable Taxable
value not value less Rate of land tax
Item less than than surcharge
1 0 50 000 Nil
2 50 000 100 000 $500
3 100 000 250 000 $975
4 250 000 $975 and 01% of the
taxable value that
exceeds $250 000
".
Division 4--Miscellaneous
47 Absentee exemption requirements
In section 3BB(1) of the Land Tax Act 2005, for
"6 months" substitute "12 months".
48
State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 10--Amendment of Land Tax Act 2005
48 BTR special land tax--owner of land
In section 50B(2) of the Land Tax Act 2005, in
the formula set out in that subsection, in the
variable BR, for paragraphs (a) and (b)
substitute--
"(a) if the owner of land is an absentee owner and
the relevant year is--
(i) 2022 or 2023--3275%; or
(ii) any year from 2024 to 2033--5325%;
or
(iii) 2034 or any later year--5275%; or
(b) if the owner of land is not an absentee owner
and the relevant year is--
(i) 2022 or 2023--1275%; or
(ii) any year from 2024 to 2033--1325%;
or
(iii) 2034 or any later year--1275%;".
49
State Taxation Acts and Other Acts Amendment Act 2023
No. of 2023
Part 11--Repeal of this Act
Part 11--Repeal of this Act
49 Repeal of this Act
This Act is repealed on 1 January 2027.
Note
The repeal of this Act does not affect the continuing operation of
the amendments made by it (see section 15(1) of the
Interpretation of Legislation Act 1984).
═════════════
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Endnotes
Endnotes
1 General information
See www.legislation.vic.gov.au for Victorian Bills, Acts and current
authorised versions of legislation and up-to-date legislative information.
Minister's second reading speech--
Legislative Assembly:
Legislative Council:
The long title for the Bill for this Act was "A Bill for an Act to amend the
Duties Act 2000, the Fire Services Property Levy Act 2012, the First
Home Owner Grant and Home Buyer Schemes Act 2000, the Land
Tax Act 2005, the Local Government Act 1989, the Property Law
Act 1958, the Sale of Land Act 1962, the Treasury Corporation of
Victoria Act 1992, the Valuation of Land Act 1960 and the Windfall
Gains Tax Act 2021 and for other purposes. "
By Authority. Government Printer for the State of Victoria.
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