Windfall gains to be taxed under new Victorian legislation

As outlined by Jenny Lee and Mark Latham, a bill before the Victorian Parliament not only introduces a windfall gains tax, but also contains other tax amendments to various state legislation.

The Victorian Government introduced the Windfall Gains Tax and State Taxation and Other Acts Further Amendment Bill 2021 (Bill) on 12 October 2021, introducing a new Principal Act for the windfall gains tax (WGT) as well as amendments to various state legislation, including the Land Tax Act 2005. This article details those amendments contained within the Bill, including the new WGT, land tax concessions for build-to-rent (BTR) developments and changes to the charitable land tax exemption. S...

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Authors: Jenny Lee, Mark Latham

Published Date: 19 October 2021