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From 1 July 2023, the Victorian Government’s new Windfall Gains Tax will take effect.
The tax will apply to land that has increased in value due to rezoning. And the rates are significant: 62.5% on a value uplift of between $100,000 and $500,000, or 50% applied to the total value uplift if it is greater than $500,000.
Needless to say this change has major implications for all landholders, particularly on the urban fringes.
At this webinar Craig Whatman, Executive Director with Pitcher Partners, will break down this new tax regime. He will discuss what it means for builders and developers, when exemptions may apply and what your business can do to prepare itself.
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