Published on 02 December 2021
The Windfall Gains Tax and State Taxation and Other Acts Further Amendment Act 2021 has received Royal Assent.
The Act introduces changes to several Acts, and includes revenue and tax relief initiatives announced as part of the 2020-21 and 2021-22 Victorian budgets.
Key changes include:
- introduction of a new windfall gains tax which takes effect from 1 July 2023
- amendments to land tax exemptions for private gender-exclusive clubs and charities
- the build-to-rent land tax concession
- a new point of consumption framework for the taxation of keno which takes effect from 15 April 2022.