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What is the nexus between Land tax rates and pandemic spending?

Scott, of the family Chapman made this Freedom of Information request to State Revenue Office Victoria

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Scott, of the family Chapman
Delivered

Dear State Revenue Office Victoria,

Please verify what law and specific clause authorised Land tax rates to increase this year (2024) as part of the Victorian Government’s COVID Debt Repayment Plan.

Secondly, I am not aware that goods and services for Land benefited from the Publicly accrued COVID Debt, therefore please verify the nexus between Land tax rates and pandemic gov spending.

Yours faithfully,
Scott

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FOI, State Revenue Office Victoria

Sensitive - OFFICIAL

Dear Scott,

I refer to your email request below.

In relation to the increase in land tax rates, these were announced in the 2023-2024 Victorian Budget and formed part of State Taxation Acts Amendment Act 2023 which received Royal Assent on 27 June 2023. That Act amended the Land Tax Act 2005 to introduce a temporary land tax surcharge from the 2024 land tax year, expiring after 10 years. Properties exempt from land tax will also be exempt from the surcharge.

- For taxable landholdings between $50,000 and $100,000, a $500 flat surcharge will apply.
- For taxable landholdings between $100,000 and $300,000 (or $250,000 for trusts), a $975 flat surcharge will apply.
- For taxable landholdings over $300,000 (or $250,000 for trusts), a $975 flat surcharge will apply plus an increased rate of land tax by 0.10 percentage points.

The relevant amendments are contained in Division 2 of Part 4 of the Act, with the rates specifically detailed in section 35.

In relation to the second part of your request this is something that you may wish to take up with your local Member of Parliament.

Freedom of Information team
Policy & Legislation Branch
Phone +61 3 9628 6801
Email [State Revenue Office Victoria request email]
sro.vic.gov.au

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