Windfall Gains Tax on its way to Victoria

The Victorian Government has continued with its intention to introduce a new windfall gains tax (WGT) in respect of gains made by landowners arising from increases in land value following rezoning of land. Following consultation with stakeholders, further details about the value mechanism and rezoning and transaction exemptions have been announced. Read more

Victoria’s Proposed Windfall Gains Tax

Please view our updated post here.  As part of the Victorian Budget 2021/22, the Victorian Government announced a new windfall gains tax as a ‘value capture mechanism’ in respect of gains made by landowners arising from increases in land value following rezoning of the land. Few details have been announced to date and legislation has … Read more