Vacant Residential Land Tax
Commencing 1 January 2025, vacant residential land tax (VRLT) applies to all Victorian homes unoccupied for more than 6 months in a calendar year, unless an exemption applies
.
That includes homes under construction, and those that are under renovation or uninhabitable, for more than 2 years, but does not apply to unimproved land, commercial residential premises, or residential care facilities.
If you pay land tax, it will determine if you are liable for VRLT in 2025. If the tax is payable, you must notify the State Revenue office by 15 January 2025 (or as soon as practicable afterward), via the online notification portal.
Some unoccupied homes may be exempt, such as holiday homes, a property that changed hands; and property that was re-zoned in the prior calendar year.
Even if you believe you are exempt, you still need to notify of vacant tax and then apply for an exemption via the online notification portal.
The rate of tax is based on 1% of capital improved value for the first year, increasing 1% each year.
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