Transfers to trustees or custodians of superannuation funds or trusts
A transfer of dutiable property made without monetary consideration to a trustee or custodian of a complying superannuation fund where there is no change in the beneficial ownership of the property.
Purchasers Beware – Duty is Now Payable on Late Settlement Interest
If settlement is delayed by the purchaser, through no fault of the Vendor, then interest can be payable by the Purchaser in accordance with the terms of the contract of sale of land (Late Settlement Interest). Late Settlement Interest is normally calculated at 12% per annum of the purchase price.
Draft Land Tax Ruling - Land Tax Exemption for Charities
On 15 February 2022, the Victorian State Revenue Office (SRO) published ruling LTA-009 (Draft Ruling) that replaced the previous rulings of LTA-004 and LTA-005.
The consultation process closed for comments and submissions on 15 March 2022. We will provide updates when the SRO releases their final ruling in due course.