I am pleased to present the 2024–25 Annual Review for the State Revenue Office of Victoria.
Our vision is to be recognised as one of Victoria’s best performing organisations. Over the past 12 months, we continued to deliver our 2023–27 Strategic Plan, which outlines the steps we are taking to bring this vision to life.
It is inspiring to see the energy and commitment across our organisation to build a smarter, more connected experience for our customers.
Our success is vital to the people of Victoria, because the revenue we collect enables the government to provide important services that benefit our communities.
In 2024–25, we collected $33.5 billion in revenue – a 6.8% increase on the prior financial year.
The year in review
The past 12 months have been another busy year of legislative change for our organisation.
We implemented the commercial and industrial property tax reform on 1 July 2024, the temporary duty concession for off-the-plan property purchases from 21 October 2024, vacant residential land tax changes, as well as the new short stay levy on 1 January 2025.
We also prepared for the emergency services and volunteers fund to replace the fire services property levy from 1 July 2025, and continued to administer the COVID Debt Repayment Plan.
Additionally, we:
- maintained a customer satisfaction rating of 81% thanks to our high-quality customer service in response to 395,237 calls and 68,420 emails
- helped tens of thousands of Victorians buy or build their own home through land transfer duty reductions for first home buyers and pensioners, First Home Owner Grants and the Victorian Homebuyer Fund
- expanded our customer education program to deliver 310 presentations for more than 10,000 attendees
- gave expert advice on tax-technical matters through 1,530 private rulings
- assessed $888.7 million from compliance activities
- continued to drive down our debt-to-revenue ratio (meaning total debt divided by total revenue), from 1.98% on 1 July 2024 to 1.95% on 30 June 2025.
We also continued to invest in modern technology to make our systems even simpler and safer for customers. In 2024–25, we delivered upgrades to implement legislative changes, strengthen our cybersecurity and enhance our customers’ technology experience.
The year ahead
In 2025–26, we are focused on implementing the emergency services and volunteers fund, changes to vacant residential land tax to include residential land that has remained undeveloped for 5 years, the congestion levy expansion from 1 January 2026, and new tax relief measures for victim-survivors of family violence.
Other priorities include:
- implementing some AI developments to make life easier for staff and customers
- delivering a new-look website to make it even easier for customers to find and understand the information they need
- providing development programs and learning resources that encourage excellence in our people
- continuing to invest in upgrades that meet our strategic goal of modernising technology.
Our organisation’s purpose is to provide quality revenue management services which are fair, efficient and deliver benefits to all Victorians.
I am proud of the achievements our organisation accomplished in 2024–25, and I look forward to seeing us continue to fulfil our purpose over the next 12 months.
Paul Broderick
CEO and Commissioner of State Revenue Victoria