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.