Land Tax relief during COVID-19 for Victorian landholders
The Victorian Treasurer Tim Pallas has announced that the State Government will waive the Vacant Residential Land Tax for properties that are vacant in 2020. He says that with travel restrictions in place and property inspections not currently possible, many properties are vacant that would be otherwise occupied. Car park owners can also defer any outstanding balances until next year. Generally this is applicable to clients with rental properties (such as holiday homes) that are available for rent, but not rented out during the pandemic.
As always, please contact us if we can assist you or you have any queries relating to the above.