Authority update VIC: Vacant residential land tax

From 1 January 2018, a vacant residential land tax applies to homes in inner and middle Melbourne that were unoccupied for more than six months in a preceding calendar year.

The vacant residential land tax is assessed by calendar year (1 January to 31 December) and the six months do not need to be continuous.

The Victorian Government has introduced this tax to help address the lack of housing supply in Victoria.

For more information including;

  • A list of municipal councils which are effected (TBC)
  • The tax rate
  • Exemptions
  • Notification requirements

Please visit http://www.sro.vic.gov.au/node/6094 or to register to attend a webinar regarding this new tax visit http://www.sro.vic.gov.au/node/6094.

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Disclaimer: The information herein has been prepared by SAI Global Property Division Pty Ltd ACN 089 586 872 from information released by the Authority cited on this page. It is provided as general background information only; it is not complete; and it does not comprehensively address this subject matter. Readers should not consider the information so provided as advice nor as a recommendation to take any particular course of action. Persons needing advice should consult their own solicitor, accountant or other professional adviser.