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Business Advisory

New Property Tax Changes for Commercial and Industrial Properties in Victoria

Posted by: Ewen Fletcher on

Starting 1st July 2024, the Victorian government has introduced a new 1% property tax on land value. This change impacts how stamp duty applies to these properties. Existing owners are exempt until the property sells, triggering a 10-year countdown for the new tax.

In this short video, Ewen shares some of the changes and how they might affect your purchase. Contact us for further guidance and referral to a qualified legal practitioner for detailed advice on upfront and ongoing costs.

You can read more about the changes here.

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