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Amount of absentee owner surcharge revenue collected by the SRO

Year Number of transactions Revenue ($ million)
2015-16 3245 19.34 million
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From 1 January 2016, a 0.5 per cent absentee owner surcharge applies to Victorian land owned by an absentee owner. The absentee owner surcharge is an additional amount payable over the general and trust surcharge rates of land tax.

The Treasurer has published guidelines in the Government Gazette, outlining the basis on which exemption decisions are to be made.

Exemptions granted from absentee owner surcharge under section 3B(2) of the Land Tax Act 2005

Period Number of exemptions Value of exemptions
29 June 2015 - 30 November 2015 0 0
1 December 2015 - 31 May 2016 79 $11,934,681.88
1 June 2016 - 30 June 2017 281 $75,202,574.84
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