Legislation in Victoria has now passed the Legislative Assembly to prohibit a vendor from passing on an existing land tax or windfall gains tax liability to a purchaser on sale of land. Subject to the legislation passing unamended in the Legislative Council and receiving Royal Assent, the changes will take effect 1 January 2024.

Harwood Andrews is pleased to have advised the owners of the BIG4 Beacon Resort on the off-market sale of the business to Ingenia Communities group (ASX: INA) for $37m.

The Commercial Tenancy Relief Scheme Regulations 2021 (Regulations) were introduced by the Victorian Government on 24 August 2021 aimed at providing further rent relief for Commercial Tenants as a result of the ongoing COVID-19 pandemic. A copy of the Regulations can be found HERE.