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Land Tax Deferral Announcement

By | 26/03/2020

Tax Relief

In response to the current State of Emergency, the State Government has announced various tax measures to support Victorians. One of these measures addresses Land Tax.

Tax ReliefIf you own at least one non-residential property, your total taxable landholdings are below $1 Million and you are due to pay your 2020 land tax, you may have the option of deferring your 2020 land tax payment until after 1 January 2021.

Non-residential properties are defined as: commercial properties, industrial properties or vacant land (excluding residential land).

If you have already paid your 2020 land tax, you may be able to request a return of the tax paid which will then need to be repaid in full by 31 March 2021.

If you are eligible for this deferral, the State Revenue Office will contact you and provide further information including how to request return of your payment. You do not need to do anything at this stage.

Further information is available here: https://www.sro.vic.gov.au/coronavirus

Bill DiDonna

Written by Bill DiDonna 

Bill has more than 35 years of property management experience across Melbourne’s suburban commercial property market. He is a licenced estate agent, has an Associate Diploma in Real Estate Valuations (RMIT),is currently a committee member on the Commercial and Industrial chapter of the REIV and takes a keen interest in legal issues, trends and insights affecting property.

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