Changes to Victorian Land Tax for Absentee Owners

Did you know that from 1 January 2016, there have been important changes to land tax?

A 0.5% land tax surcharge now applies to Victorian land owned by an absentee owner (this is broadly foreign individuals, companies and trusts).

Absentee owners must advise the SRO by 15 January 2016 of their status to avoid penalties.

Non-resident Australian citizens are exempt from the surcharge.