What the new "windfall" tax will mean for Victorian landowners and property developers
The State Government announced this year that it will be introducing a new “windfall gains tax” from 1 July 2022. Developers and landowners will face a windfall gains tax of up to 50% applied to planning decisions to rezone land. This tax is likely to affect landowners who intend to rezone land for property development, as the land value will significantly increase once it has been rezoned for property development purposes. Read More
