Understanding the Primary Production Land (PPL) Tax Exemption and Vacant Residential Land Tax (VRLT) in Victoria
Landowners in Victoria must navigate a complex framework of land tax regulations, including the Primary Production Land (PPL) tax exemption and the Vacant Residential Land Tax (VRLT). Understanding these provisions is crucial to ensuring compliance while optimising potential tax benefits.
Commercial and Property Tax Reform
On 20 March 2024, the Victorian Government introduced a bill which, if passed, will create new legislation which transitions from stamp duty to an annual property tax for commercial and industrial properties in Victoria.
Beware the nomination double duty trap
If you are in the business of developing land, you are likely aware sub-sales (most often created by the nomination of an alternative transferee by the purchaser) carry a risk of a second set of duty becoming payable to the State Revenue Office.
