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On Tuesday 20 May 2025 Victoria’s first female Treasurer, Jaclyn Symes, delivered her inaugural budget alongside Premier Jacinta Allan. For the first time in five years, the state reported an operating surplus at $600m, with projected surpluses of $1.9b in 2026–27, $2.4b in 2027–28, and $1.5b in 2028–29. Net debt is $167.6b, with it forecasted to increase to $194b by 2028-29.

Alongside Chief Minister Lia Finocchiaro, Treasurer Bill Yan focused on reducing crime and increasing public service employee costs in supporting hospital and correction services.

For wine producers and vineyard owners, the recent New South Wales Civil and Administrative Tribunal decision in Zonadi Holdings Pty Ltd ATF Wombat Investment Trust v Chief Commissioner of State Revenue [2025] NSWCATAD 84 may spell trouble for their current primary production land tax exemptions.

In a move to encourage property investors to make their homes available for long term rentals, the Short Stay Levy Act 2024 will come into effect on 1 January 2025, imposing a levy on the booking fees paid for short stays on Victorian properties.

The Victorian Supreme Court of Appeal has confirmed the Commissioner’s assessment of stamp duty on an ‘arrangement’ involving the acquisition of shares by unrelated investors in a land holding SPV.

On Tuesday 25 June 2024, Chief Minister Andrew Barr handed down the Territory’s Budget. A predicted $830.8m deficit for 2023-24 will likely return to an estimated surplus of $179.5m by 2027-28.

Commencing 1 July 2024, Victoria's stamp duty landscape will undergo a gradual but significant reform, marking the onset of substantial changes to the commercial and industrial property space.

In the latest episode of Beyond the Numbers with Grant Thornton, Kristina Popova, State Taxes Partner and Bei Bei Han, Private Business Advisory Partner discuss increases in land tax assessments, potential avenues for appeal, and the impact of the current and proposed changes on businesses and individuals.

Earlier this month the State Revenue Office of Victoria commenced issuing land tax assessment notices for the 2024 land tax year.

In Vander stock v Victoria [2023] HCA 30, the Australian High Court handed down its decision and declared the Victorian Zero & Low Electric Vehicle road user charge to be constitutionally invalid.

A new financial year brings a new property tax in Victoria. The Windfall Gains Tax (WGT) came into effect on 1 July 2023, with significant implications for the Victorian real estate and construction sector. Here, we discuss the details to be mindful of when considering the WGT.

As part of the 2023-24 State Budget, the Victorian Government has announced a number of significant changes to stamp duty, payroll tax, land tax and insurance duty.