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Victorian land tax absentee owner surcharge and new Vacant Residential Land Tax

If you or any of your clients own Victorian land and either the land tax absentee owner surcharge and/or the new Vacant Residential Land Tax taxes apply, you or your clients will need to notify the State Revenue Office of Victoria (SRO) by 15 January 2018 through the SRO’s online portal.

Victorian land tax absentee owner surcharge

The absentee owner surcharge will apply to Victorian land for a land tax year if you or your client were an “absentee owner” (a natural person absentee, absentee corporation or absentee trust) at 31 December of the preceding year. The absentee owner surcharge for the 2018 land tax year is 1.5 per cent of the land’s capital unimproved value, or “site value”, in addition to the general and trust surcharge rates of land tax.

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