In response to the current State of Emergency, the State Government has announced various tax measures to support Victorians. One of these measures addresses Land Tax.
If you own at least one non-residential property, your total taxable landholdings are below $1 Million and you are due to pay your 2020 land tax, you may have the option of deferring your 2020 land tax payment until after 1 January 2021.
Non-residential properties are defined as: commercial properties, industrial properties or vacant land (excluding residential land).
If you have already paid your 2020 land tax, you may be able to request a return of the tax paid which will then need to be repaid in full by 31 March 2021.
If you are eligible for this deferral, the State Revenue Office will contact you and provide further information including how to request return of your payment. You do not need to do anything at this stage.
Further information is available here: https://www.sro.vic.gov.au/coronavirus
Written by Aldo Galante
For over 30 years, Aldo has been at the forefront of Australia’s fast-evolving property industry. He served as President of the prestigious Australian Property Institute (Vic), providing determinations on rent-reviews and valuations