Our organisation has worked together to implement a range of legislative changes over the past 12 months.
Guided by our strategic goal to deliver fair and efficient revenue management services, our work involves developing the systems and tools to administer the changes, as well as educating customers about the new measures.
Commercial and industrial property tax
From 1 July 2024, commercial and industrial property in Victoria changed from land transfer (stamp) duty and landholder duty to an annual tax – the commercial and industrial property tax (CIPT).
Commercial and industrial properties will now transition into the CIPT reform if:
- there is an eligible dutiable transaction or relevant acquisition, or
- the property is part of certain types of subdivisions or consolidations of titles.
Once a property enters the CIPT reform, it will begin a 10-year transition period. CIPT becomes payable in the first year after the 10-year transition period has ended.
Off-the-plan duty concession
On 21 October 2024, the Victorian Government announced a new temporary off-the-plan land transfer (stamp) duty concession.
The concession is available to all off-the-plan purchases of apartments, units and townhouses of any value, for contracts signed between 21 October 2024 and 20 October 2025. In June 2025, the Victorian Government extended the concession for a further 12 months to 20 October 2026.
Short stay levy
From 1 January 2025, the short stay levy applies to short stays in Victorian property.
This new levy is 7.5% of total booking fees, paid by the booking platform if the booking is made via the platform, or by the property owner or tenant if the booking is made without a platform.
All revenue goes towards Homes Victoria, who manage the state’s social housing, with 25% of funds invested in regional Victoria.
As at 30 June 2025, we had received 302 registrations and $19,120,667 in revenue.
We anticipate the number of registrations to increase as booking platforms, owners and tenants that collect annual booking fees less than $75,000 are required to lodge returns annually. Those with a liability in 2025 must register by 31 December 2025.
Vacant residential land tax
From 1 January 2025, vacant residential land tax (VRLT) now applies to residential land that is vacant for more than 6 months in a calendar year across all of Victoria. It previously only applied to Melbourne’s inner and middle suburbs.
A new progressive rate of tax also applies based on the number of consecutive tax years the property has been liable for VRLT: 1% of the property’s capital improved value for the first year, 2% for the second year, and 3% for the third year onwards.
Emergency services and volunteers fund
During the 2024–25 financial year, we also prepared to implement the emergency services and volunteers fund (ESVF) from 1 July 2025.
The ESVF replaces the fire services property levy, and will support the vital work of a broader range of emergency services that respond to fires, floods, storms and other emergencies across our state.