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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.

It has been a busy month for State Taxes around the country. This month we saw the validity of foreign surcharges in question, proposed changes to NSW stamp duty in the lead up to the State election, Victoria’s recent inquiry into stamp duty and windfall gains tax changes.

In this podcast, Kristina Popova, State Taxes Partner discusses some of the significant stamp duty and state tax changes we’ve seen this year across the country and what we may see in the New Year.

From 19 May 2022, substantial amendments were made to the Duties Act 1997 (NSW) (Duties Act), including the introduction of a new category of dutiable transaction which imposes duty on a change in beneficial ownership of dutiable property.

WGT aims to ensure significant land value increases from government rezoning decisions are “shared with the Victorian community” for critical infrastructures, such as public transportation and schools.