Victorian duty and land tax treatment of CCIVs announced

Victoria is the first state or territory to introduce specific provisions for corporate collective investment vehicles (CCIVs), as outlined by Sarah Shaw and Tessa Livingston.

Following the Victorian 2023 Budget announcement on 23 May 2023, the Victorian Government introduced the State Taxation Acts Amendment Bill 2023 (Vic) (Bill) to the Victorian Parliament on 30 May 2023. As anticipated, the Bill introduces many amendments in response to the Budget announcements including in respect of business insurance duty, changes to the land tax rates and the increase to the absentee owner surcharge from 2 percent-4 percent. As anticipated, the Bill doesn’t provide furthe...

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Authors: Sarah Shaw, Tessa Livingston,

Published Date: 02 June 2023