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From 2026, Victoria’s VRLT will apply to long-term undeveloped land in metro Melbourne, targeting land banking and encouraging residential development. The expansion follows 2025 reforms aimed at improving housing affordability and supply.

The New South Wales (NSW) State Government led by Labor Premier Chris Minns handed down the state’s budget on Tuesday 24 June 2025.

On Tuesday 24 June 2025, Queensland Treasurer David Janetzki handed down the Queensland State Budget – the first LNP budget in the state since 2014, following the Crisafulli Government’s win in the 2024 election.

The Western Australia Treasurer Rita Saffioti handed down the state’s budget on Thursday 19 June 2025, the Cook Government’s first budget after being elected for a third term.

On Thursday 5 June South Australian Treasurer Stephen Mullighan delivered the state budget, focusing on housing, crime and cost of living. This budget forecasted a surplus of $18m for 2024-25, with the government estimating surpluses for the next four years. The net operating surplus is estimated to be $315m by 2028-29.

Tasmanian Treasurer Guy Barnett delivered his first state budget on Thursday 29 May alongside Premier Jeremy Rockliff.

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.