Victoria to expand vacant residential land tax across state in bid to increase housing supply

New tax expansion on vacant residential land revealed in Victoria

A new tax expansion on vacant and undeveloped properties has been announced by the Victorian government.Treasurer Tim Pallas announced the reform at an industry breakfast this morning, which will see the Vacant Residential Land Tax expanded to the entire state from 2025.Homes that have been unoccupied for more than six months in Melbourne are currently the only ones caught by out by the tax. Holiday homes, however, are exempt.READ MORE: Rain br…

Victoria to expand vacant residential land tax across state in bid to increase housing supply

The surprise announcement came on the first day of parliament since Jacinta Allan became premierGet our morning and afternoon news emails, free app or daily news podcastVictoria’s treasurer has shocked the property industry and even some of his colleagues when he announced an expansion of taxes on vacant residential land during Jacinta Allans first day of parliament as premier.Tim Pallas, told an industry breakfast on Tuesday that he planned to …

Victoria to make vacant residential land tax statewide

The Victorian government will expand a vacant residential land tax to all of the state, including the regions, under legislation to be introduced in parliament.