A New Era in Victorian Taxation: The Introduction of the Commercial and Industrial Property Tax Scheme
The Victorian Government has introduced a significant reform to property taxation with the enactment of the Commercial and Industrial Property Tax Reform Act 2024 (Vic) (‘CIPT Act’). This legislation, which came into effect on 1 July 2024, replaces the longstanding transfer (stamp) duty for commercial and industrial properties with a new annual tax regime, the […]
Proposed revisions to (VRLT) Vacant Residential Land Tax: Implications for holiday home owners
In a recent development, the Victorian government has unveiled a series of significant alterations to the Vacant Residential Land Tax (VRLT), potentially impacting holiday home owners across the region.