We are pleased to launch our latest Navigating Victoria's Tax Spotlight report. In this edition, we provide an overview of recent major changes to land tax rates and additional surcharges in Victoria, Australia.

Key takeaways from the report:

• 2023 saw significant announcements for tax changes across many Australian states and territories.
  
  
• Absentee owner surcharge doubles its previous rate of 2% to 4%, applicable to Victorian land owned by an absentee owner. 
  
  
• Covid-19 Debt Levy was introduced for 10 years from 1 January 2024.
  
  
• Victoria abolished stamp duty on industrial and commercial properties, replacing it from 1 July 2024, with an annual property tax.

Read our Spotlight here