Vacant Land Tax Reminder - Deadline is 15 January 2025

Important Changes to Victoria’s Vacant Residential Land Tax in 2025

Starting 1 January 2025, Victoria's Vacant Residential Land Tax (VRLT) will expand beyond Melbourne to cover all residential properties statewide. If your property is vacant for more than six months in 2024, you could be liable for this tax.

Previously, this tax only applied to properties in Melbourne’s inner and middle suburbs. The new rules will introduce progressive tax rates based on how long a property remains vacant:

1% of the property's value for the first year
2% for the second consecutive year
3% for the third year onwards

This change aims to encourage property owners to put vacant homes to better use. Exemptions still apply for holiday homes, renovations, and new acquisitions, but criteria are tightening, so careful planning is crucial.

Please note: You must still register by 15 January 2025 even if an exemption applies.

How We Can Help

At CoggerGurry, we’re here to help you navigate these changes:

Assess if your property is impacted
Identify potential exemptions
Manage compliance to avoid penalties

If you need support to prepare for these changes, get in touch with our team today! Call our office on (03) 5571 0111

Source: State Revenue Office website

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