In 2024–25, we assessed $33.5 billion in revenue. The revenue we collect funds vital infrastructure and government services like education, healthcare and transport.
The overall revenue assessed was more than $1.3 billion over forecast.
Table 1: Performance against forecast for 2024–25
| 2024–25 | Forecast $’000 | Assessed $’000 | Variance |
|---|---|---|---|
| Payroll tax | 9,231,057 | 10,265,590 | 11.2% |
| Mental health and wellbeing surcharge | 1,096,284 | 1,259,212 | 14.9% |
| COVID debt levy – payroll $10m+ | 1,096,284 | 1,259,244 | 14.9% |
| Land transfer duty | 9,200,000 | 9,249,082 | 0.5% |
| Land tax | 6,058,370 | 6,117,612 | 1.0% |
| COVID debt levy – landholdings | 1,137,956 | 1,131,781 | -0.5% |
| General insurance duty | 1,952,396 | 1,941,748 | -0.5% |
| Fire services property levy | 1,032,636 | 1,030,588 | -0.2% |
| Transport Accident Commission duty | 254,174 | 254,808 | 0.2% |
| Congestion levy | 128,459 | 122,774 | -4.4% |
| Growth areas infrastructure contribution | 179,461 | 184,202 | 2.6% |
| Short stay levy | 29,700 | 19,104 | -35.7% |
| Metropolitan planning levy | 22,212 | 24,066 | 8.3% |
| Other miscellaneous duties* | - | 20,435 | N/A |
| Commercial passenger vehicle service levy | 85,718 | 85,919 | 0.2% |
| Wagering and betting tax | 348,605 | 353,343 | 1.4% |
| Casino tax | 172,535 | 176,977 | 2.6% |
| Community benefit levy | 11,867 | 9,605 | -19.1% |
| Windfall gains tax | 90,000 | 14,837 | -83.5% |
| Keno tax | 13,192 | 12,407 | -6.0% |
| Total revenue | 32,140,904 | 33,533,332 | 4.3% |
* Includes cattle compensation fund ($6,188,000), sheep and goat compensation fund ($4,355,000) and swine compensation fund ($206,000).
Table 2: Additional property taxes
| 2024–25 | Number | Revenue assessed |
|---|---|---|
| Absentee owner surcharge | 7,678 absentee owners | $457.83M |
| Foreign purchaser additional duty | 1,481 property transactions by foreign purchasers | $104.51M |
| Vacant residential land tax | 4,631 properties assessed | $78.12M |
In the 2025 VRLT assessment year, the following properties were eligible for an exemption (as at 30 June 2025):
- Holiday house: 25,082
- Ownership of property was transferred during the year: 252
- Property used for purposes of attending work: 181
- Property recently became residential land: 177.