If you own land in Victoria, you may have to pay land tax. For land tax purposes, when you acquire any land in Victoria, you must tell us that you are the owner of the land by lodging, with the Land Registry, a notice of acquisition.
You must do this within one month of acquiring the land. Failing to lodge the acquisition notice within this deadline may result in penalties. This information will be forwarded to us by the Land Registry. You do not need to lodge this notice directly with us.
You should also lodge a copy of your acquisition notice with your relevant municipal council for rates purposes. If you are acquiring land on trust, you need to lodge a notice of trust acquisition with us.
Note: if you have sold your property, you need to lodge a notice of disposition with your relevant water authority. You do not need to lodge this notice with us.
New notice of acquisition
On 19 December 2015, the Land Tax Regulations 2015 will come into effect along with a new notice of acquisition. This new notice must be used for all settlements occurring on or after 19 December 2015.
Gather required information
The following information is needed to complete the Notice of Acquisition of an Interest in Land (LTX-Form 01), but refer to the form for specific instructions:
- Full contact details of the seller (all parties that were registered on title whether individuals, trusts or companies),
- Full contact details of the buyer (all parties to be registered on title whether individuals, trusts or companies) and percentage of share holdings,
- if the buyer is an individual please provide their date of birth, future contact details and indicate whether the property will be used as their principal place of residence
- Details of the title (refer to the certificate of title, plan of the property, transfer of land documentation, and council rates notice),
- Details of the transaction, and
- For cases involving related corporations or joint owners, the attached notification must be completed and signed by all parties
Access and complete the notice
The notice can be completed:
- On screen, then printed and signed, or
- Downloaded, printed, completed by hand and signed
Either way, the notice must be signed prior to lodgement. If you are completing this document by hand, please use block letters in blue or black ballpoint pen.
Lodge your notice
If the land you acquired is not your principal place of residence (your primary home), land tax may apply.
There are various exemptions from land tax, including for land used in primary production, rooming houses, charitable institutions and more. You may want to learn more about these and apply for an exemption.