Why you will need to pay windfall gains tax starting from 1 July 2023? With the new introduction of Victorian Government, a windfall gains tax is applicable to land that is affected by rezoning in a value uplift to the land of more than $100,000.
In determining such value uplift, landowners as an individual or corporation will need to take rezoning into consideration and consider valuation for windfall gains tax to report to the government.
Windfall Gains Tax Service in Victoria
From 1 July 2023, the Victorian Government will introduce a windfall gains tax applicable to land affected by rezoning, with a value uplift of more than $100,000. If you are a landowner, you must consider valuation assessment for windfall gains tax for financial reporting to the government.Contact