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Victorian Universities - Windfall gains tax & changes to charity land tax exemption

15/10/2021

Changes to charity land tax exemption to increase University land tax bills. The recently released Windfall Gains Tax and State Taxation and Other Acts Further Amendment Bill 2021 has introduced Victoria’s new Windfall Gains Tax and included changes to the charity exemption for land tax. This should be considered closely by Universities that hold land […]

Windfall gains tax

14/10/2021

After being deferred 12 months from the original Victorian Budget announcement, the windfall gains tax (WGT) will come into effect on 1 July 2023. This applies to uplifts in land value resulting from amendments to planning schemes that take effect on or after 1 July 2023 and is payable by the owner of the land […]

Victorian Build to Rent Concessions introduced

14/10/2021

The Victorian Government has introduced Build to Rent Concessions in the form of a 50% reduction in land tax and an exemption from the land tax Absentee Owner Surcharge. Build to Rent (BTR) projects which will in turn ensure Victorians have access to more rental homes and a greater range of housing options. BTR Benefits […]