News and announcements
Announcements
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News
Vacant residential land tax and absentee owner surcharge notifications due 15 January 2025
Notifications for vacant residential land tax and the land tax absentee owner surcharge are due by 15 January 2025. If you made a notification last year, you only need to make a new one if your circumstances have changed.
Last updated: 8 January 2025
Short stay levy registration now open
Booking platforms and owners or tenants that accept short stay bookings without a booking platform can now register for the short stay levy through SRO's online portal. If you are an owner or tenant who only accepts bookings through a booking platform, you do not need to register. You must register before the end of the first period in which you are liable for the levy.
https://www.sro.vic.gov.au/news/short-stay-levy-registration-now-open
Last updated: 2 January 2025
Congestion levy updates
On Friday 13 December 2024, the Victorian Government announced changes to the congestion levy from 1 January 2026, pending Royal Assent. These include an expansion of Category 2 eastwards, an increase in the Category 1 rate , and a proportionate increase in the Category 2 rate.
https://www.sro.vic.gov.au/news/congestion-levy-updates
Last updated: 18 December 2024
State Taxation Further Amendment Act 2024
The State Taxation Further Amendment Act 2024 received Royal Assent on Tuesday 3 December 2024 and introduced changes to several Acts, vacant residential land tax, payroll tax, commercial and industrial property tax, land transfer duty, as well as foreign purchaser additional duty and absentee owner surcharge.
https://www.sro.vic.gov.au/news/state-taxation-further-amendment-act-2024
Last updated: 3 December 2024
Short stay levy applies from 1 January 2025
From 1 January 2025, short stay levy will apply to short stays in Victorian properties where a fee is charged. A short stay is a stay in property for a continuous period of 28 days or less and the levy is a flat 7.5% of the total booking fees paid, including fees and charges such as cleaning fees and GST where applicable. The total booking fee does not include credit card fees. The levy will not apply to a short stay in a property that is someone’s principal place of residence (PPR), whether they own or rent the property.
https://www.sro.vic.gov.au/news/short-stay-levy-applies-1-january-2025
Last updated: 29 October 2024
New temporary off-the-plan duty concession
A new off-the-plan concession for purchases of dwellings in a strata subdivision will be available for contracts entered into on or after 21 October 2024 and before 21 October 2025. which will allow purchaser to deduct construction costs incurred on or after the contract date when determining the dutiable value of the property. The new concession will be available to all purchasers, including investors, companies and trusts, meaning there would be no requirement to be eligible for either the principal place of residence duty concession or the first home buyer duty exemption or concession.
https://www.sro.vic.gov.au/land-transfer-duty/temporary-plan-duty-concession
Last updated: 21 October 2024
New commercial and industrial property tax effective from 1 July 2024
Commercial and industrial property is moving from land transfer duty (stamp duty) and landholder duty to an annual property tax known as the commercial and industrial property tax (CIPT) reform where property owners will be required to pay an annual tax based on 1% of the property’s site value, commencing 10 years after the first eligible transaction.
https://www.sro.vic.gov.au/commercial-and-industrial-property-tax
Last updated: 22 May 2024