News and updates

We have published revised ruling LTA-006v2, which provides guidance on what constitutes the preparation of land for the purposes of primary production land tax exemption.

On 8 August 2024, the Court of Appeal handed down its decision in Oliver Hume Property Funds (Broad Gully Rd) Diamond Creek Pty Ltd v Commissioner of State Revenue [2024] VSCA 175. The Court unanimously upheld the decision of the Victorian Civil and Administrative Tribunal (VCAT), finding that the acquisitions made in the applicant landholder pursuant to a conditional capital raising were subject to duty as an associated transaction notwithstanding that the acquirers were not acquainted with each other.

We’re expanding our series of statewide property tax education sessions, with new seminars scheduled in the Mornington Peninsula (Tuesday 29 October) and Melbourne (Wednesday 30 October).

You are invited to join us at our property taxes education roadshow throughout Victoria this September and October.

You are invited to provide feedback on draft Revenue Ruling LTA-006v2 – Land being prepared for primary production.

We have published draft Revenue Ruling DA-068, which provides guidance on the abolition of duty on business insurance.

The start of a new financial year means updates to some fees, thresholds, levies and rates. Here is a summary of the Victorian taxation changes taking effect on 1 July 2024. Our website is being updated to reflect the changes.