Published on 12 October 2021
The Victorian Government has made a further announcement about the build-to-rent initiative, which was first announced as part of the 2021-22 Victorian Budget.
It is proposed that eligible build-to-rent developments may be able to receive a 50% discount on the taxable value of the land for up to 30 years. As part of the initiative, a full exemption from the absentee owner surcharge may also be applied over the same period.
Legislation to support this measure is yet to be passed by Parliament.
The SRO website will be updated with further information once the measure becomes law. In the meantime, please refer to the Department of Treasury and Finance website for more information.