Preparing for the Windfall Gains Tax – Victoria’s newest property tax

Preparing for the Windfall Gains Tax – Victoria’s newest property tax

From 1 July this year, a rezoning of land in Victoria can be subject to a tax of up to 50% of the value uplift resulting from the rezoning. This is irrespective of whether a landowner initiates the rezoning. It’s critical that all landowners, prospective purchasers and developers understand how this new tax will impact their bottom line, as well as their obligations with the State Revenue Office.

How will the tax be administered? When may the liability arise? What deferral schemes and exemptions can you leverage? Watch our webinar on demand for practical insights into the mechanics of the new tax. This session is a must for land owners, prospective purchasers and their advisors.