Vacant Residential Land Tax — Changes to ‘Holiday Home’ Exemption
In December 2023, substantial changes were made to property taxes in Victoria including Vacant Residential Land Tax (VRLT). From 1 January 2025, owners of residential property in Victoria that are vacant for more than six months in the previous calendar year are liable for the VRLT unless an exemption applies. ‘Holiday homes’ that comply with certain criteria are one of the key exemptions.
Understanding the Impact: Labor Government’s Superannuation Policy Shift
Superannuation Policy Changes by Labor Government The Labor Government, despite its election promise to avoid major changes to…
Understanding the Role of Estoppel in Estate Planning: Key Insights and Best Practices
Understanding the Role of Estoppel in Estate Planning Estoppel plays a significant role in estate planning as it discards actions that…
Navigating Early Deposit Release: Understanding Section 27 of the Sale of Land Act 1962 (Vic)
Contemplating accessing your deposit funds ahead of schedule? Before proceeding, let’s delve into the intricacies of early deposit…
Proposed Commercial & Industrial Property Tax Reforms for Victoria: What You Need to Know!
Following Government announcements in the Victorian Budget 2023-24 a Bill is currently before Parliament which will introduce tax reform…
Expertise in Business Succession Planning
At Hill Legal, we understand the importance of business succession planning for the continuity and success of your business. Whether you…
