From 3 August 2024, Land Use Victoria stopped issuing paper certificates of title. This is the next phase in Land Use Victoria’s journey towards creating an electronic future for the Register of Land.
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Windfall Gains Tax is a tax imposed on landowners in Victoria, which came into effect from 1 July 2023. WGT aims to capture a portion of the increased land value resulting from government planning decisions, ensuring that the benefits of rezoning contribute to public infrastructure and services.
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Buying off-the-plan is a choice that many investors and home buyers make. However, along with a number of general risks associated with purchasing off-the-plan, there are additional risks directly resulting from the property, certain market trends, and the interest rate rises, particularly when relying on a pre-approved loan.
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Sub-sales and nominations related to property purchases can be complex. An important component of such a property purchase is the impact on stamp duty.
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The amount land transfer duty (stamp duty) payable depends on a number of factors including the value of the property, the type of property and whether any stamp duty exemptions apply. In this article, we are looking at the stamp duty exemption for a spousal transfer.
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In addition to land transfer duty (formerly called stamp duty), foreign purchasers in Victoria may also have to pay a foreign purchase additional duty (“FPAD”).
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