On 12.10.21, the Premier of Victoria issued a media release extending and modifying previously announced measures to encourage investment in rental properties.
Eligible Build-to-Rent developments completed and operational between 1 January 2021 and 31 December 2031 will receive both the 50% land tax discount and full exemption from the Absentee Owner Surcharge (AOS) for up to 30 years from 1 January 2022.
The measure had originally been announced in the 2020-21 State Budget. Stated there to end in 2040, this support will now provide a full 30-year concession to projects starting before 2032.
[Tax Month – October 2021 – Previous Tax Month] 24.10.21