As part of the 2011-12 Victorian Budget, the Victorian Government announced it would reform its land rich duty provisions by adopting a landholder duty model from 1 July 2012. The Victorian State Revenue Office (SRO) advised that after initial public consultation on policy parameters of the proposed landholder duty model, the Government made changes to the original design features. The Government has now released exposure draft legislation for consultation. Comments are due to the SRO by 16 April 2012.
[LTN 68, 11/4]