Liability and concessions under Victoria’s Commercial and Industrial Property Tax

In part two, Sarah Shaw and Tessa Livingston discuss liability for the proposed tax, what exemptions and concessions are available under the new regime, and what happens when the land use changes.

In part one, exploring Victoria’s Commercial and Industrial Property Tax, we set out a summary of the details currently known. Further details of the CIPT regime will be provided when the draft legislation is introduced (expected in April 2024). Are there any exemptions or concessions available? Transactions of properties that are commercial or industrial land and are eligible for stamp duty concessions will enter the CIPT regime. Most relevantly, this means that acquisitions of commercia...

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Authors: Sarah Shaw, Tessa Livingston

Published Date: 15 December 2023