State Taxation Acts Amendment Act 2025 (Vic)
State Taxation Acts Amendment Act 2025
No. 24 of 2025
TABLE OF PROVISIONS
Section Page
Part 1—Preliminary
1Purposes
2Commencement
Part 2—Amendment of Commercial and Industrial Property Tax Reform Act 2024
3Definitions
4When does land have a qualifying use?
5New sections 4A and 4B inserted
Part 3—Amendment of Duties Act 2000
6Consideration for the transfer of dutiable property—adjustment for construction costs
7Heading to section 45 inserted
8Requirements—first home buyers
9Exemption—tax reform scheme land partially assessed for duty
10New section 69AQC inserted
11New section 89FAC inserted
12Value of certain tax reform scheme land holdings to be excluded from duty assessment
Part 4—Amendment of First Home Owner Grant and Home Buyer Schemes Act 2000
13Definitions and cross‑references
14Criterion 3—Applicant (or applicant's partner) must not have been entitled to earlier grant
15Criterion 4—Applicant (or applicant's partner) must not have had relevant interest in residential property
Part 5—Amendment of Land Tax Act 2005
Division 1—Eligibility for certain benefits and concessions
16Absence from principal place of residence
16AExemption continues if land becomes unfit for occupation
17New section 70NA inserted
18Statute law revision
Division 2—Further miscellaneous amendments
19Requirements for trustees to notify Commissioner
20Absence from principal place of residence
21Exemption continues on death of resident
22What is a BTR development?
23What is an eligible BTR development?
24What are the required rental terms?
25New clause 22 of Schedule 3 inserted
Part 6—Amendment of Payroll Tax Act 2007
26Definitions
27Meaning of regional employer
28New section 3B inserted
Part 7—Amendment of Taxation Administration Act 1997
29Amount of penalty tax
30Objection
31Grounds for objection
Part 8—Amendment of Unclaimed Money Act 2008
32Definitions
33Registrar may pay owner
34New Division 1A of Part 4 inserted
35Objections
36Referral to VCAT
37Court appeals
38Refund of amount
39Payment of interest
40New section 106 inserted
Part 9—Amendment of Victorian Conservation Trust Act 1972
41Vacant Land Conservation Covenants Account
42Schedules 1 and 2 repealed
Part 10—Repeal of this Act
43Repeal of this Act
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Endnotes
1 General information
State Taxation Acts Amendment Act 2025
No. 24 of 2025
[Assented to 24 June 2025]
The Parliament of Victoria enacts:
PART 1—PRELIMINARY
1Purposes
The purposes of this Act are—
(a)to amend the Commercial and Industrial Property Tax Reform Act 2024 to authorise the Commissioner to provisionally determine that land has a qualifying use for the purposes of that Act; and
(b)to amend the Duties Act 2000—
(i)in relation to the duty payable on a transaction that relates to subdivided tax reform scheme land; and
(ii)to exempt persons affected by family violence from certain requirements under that Act; and
(c)to amend the First Home Owner Grant and Home Buyer Schemes Act 2000 to exempt persons affected by family violence from certain conditions imposed by that Act; and
(d)to amend the Land Tax Act 2005—
(i)to exempt persons affected by family violence from certain requirements under that Act; and
(ii)in relation to dwellings in a build to rent development; and
(iii)in relation to circumstances in which the Commissioner must be notified of matters involving land subject to a trust; and
(iv)to make further provision for exemptions from land tax for land used and occupied as a person's principal place of residence; and
(e)to amend the Payroll Tax Act 2007 to make further provision for the circumstances in which an employee will be a regional employee for the purposes of that Act; and
(f)to amend the Taxation Administration Act 1997 to introduce a new rate of penalty tax for recklessness by a taxpayer or their agent as to the operation of a taxation law or their obligations under certain taxation laws; and
(g)to amend the Unclaimed Money Act 2008—
(i)to confer power on the Registrar of Unclaimed Money to issue repayment notices; and
(ii)to ensure that the Registrar of Unclaimed Money is not prevented from paying unclaimed money to a person whom the Registrar is satisfied is the owner of that money; and
(h)to amend the Victorian Conservation Trust Act 1972 in relation to the Vacant Land Conservation Covenants Account; and
(i)to make other minor and technical amendments to those Acts.
2Commencement
(1)This Act (except Division 2 of Part 5 and Part 6) comes into operation on the day after the day on which it receives the Royal Assent.
(2)Part 6 comes into operation on 1 July 2025.
(3)Division 2 of Part 5 comes into operation on 1 January 2026.
PART 2—AMENDMENT OF COMMERCIAL AND INDUSTRIAL PROPERTY TAX REFORM ACT 2024
3Definitions
In section 3 of the Commercial and Industrial Property Tax Reform Act 2024—
(a)insert the following definitions—
"latest valuation means the most recent valuation of land under—
(a)section 4A; or
(b)section 21(1)(b) of the Land Tax Act 2005; or
(c)section 13 of the Windfall Gains Tax Act 2021; or
(d)the Valuation of Land Act 1960;
lot has the meaning given by section 3(1) of the Subdivision Act 1988;
plan of subdivision has the meaning given by section 3(1) of the Subdivision Act 1988;
provisional determination means a determination made by the Commissioner under section 4B;
Valuer‑General means the valuer‑general appointed under section 3(1) of the Valuation of Land Act 1960.";
(b)in the definition of Valuation Best Practice Specifications Guidelines, for "1960." substitute "1960;".
4When does land have a qualifying use?
(1)After section 4(1)(b) of the Commercial and Industrial Property Tax Reform Act 2024 insert—
"(ba)a provisional determination that the land has a qualifying use is in effect; or".
(2)Section 4(2) of the Commercial and Industrial Property Tax Reform Act 2024 is repealed.
5New sections 4A and 4B inserted
After section 4 of the Commercial and Industrial Property Tax Reform Act 2024 insert—
"4A Valuation of land
For the purposes of this Act, the Commissioner may request the Valuer‑General or a valuer nominated by the Valuer‑General to cause a valuation of any non‑rateable non‑leviable land and to allocate one or more AVPCC to the land.
4BProvisional determination of qualifying use
(1)The Commissioner may make a provisional determination that land has or does not have a qualifying use.
(2)A provisional determination may be made in respect of land as at any date, including a date that occurred before the commencement of this section, if as at that date—
(a)in the case of non‑rateable non‑leviable land, more than 12 months have elapsed since the valuation date of the latest valuation; or
(b)the land has not been allocated an AVPCC in the latest valuation of the land; or
(c)the land has not been valued by the Valuer‑General or a valuer nominated by the Valuer‑General.
Examples
1. Non‑rateable non‑leviable land within the meaning of the Valuation of Land Act 1960 that has not been valued.
2. A lot created on the registration of a plan of subdivision that has not been valued.
(3)In making a provisional determination, the Commissioner may have regard to any relevant matter, including the following—
(a)the sole or primary use of the land;
(b)if the land is a lot that was created on the registration of a plan of subdivision, the AVPCC (if any) allocated to the land that was subdivided;
(c)the zoning of the land under a planning scheme applying to the land;
(d)any other information available to the Commissioner.
(4)A provisional determination has effect from the date in respect of which it is made and ceases to have effect on the first valuation of the land.
(5)For the purposes of this Act, if a provisional determination is made in respect of a particular date, the AVPCC allocated to the land in the first valuation of the land is taken to have been allocated to the land as at that date and the Commissioner must assess or reassess any duty payable under the Duties Act 2000 or CIPT payable as a result.
(6)In this section—
first valuation, of land subject to a provisional determination, means the first valuation of the land made by the Valuer‑General or a valuer appointed by the Valuer‑General after the date in respect of which the provisional determination was made.".
PART 3—AMENDMENT OF DUTIES ACT 2000
6Consideration for the transfer of dutiable property—adjustment for construction costs
In section 21AA(1)(c) of the Duties Act 2000, for "21 October 2025" substitute "21 October 2026".
7Heading to section 45 inserted
Insert the following heading to section 45 of the Duties Act 2000—
"Charities".
8Requirements—first home buyers
After section 57JB(2) of the Duties Act 2000 insert—
"(3)The requirement specified in subsection (2)(a) does not apply to a transferee or a transferee's partner if that person received an exemption or concession under section 57JA in relation to an earlier transfer and that person—
(a)does not reside in the home the subject of the earlier exemption or concession because another person subjected the person or the person's family member to family violence; and
(b)has not received and will not receive any financial benefit from the home to which the earlier exemption or concession relates.
(4)In this section—
family violence has the same meaning as in section 4 of the Family Violence Protection Act 2008.".
9Exemption—tax reform scheme land partially assessed for duty
In the examples at the foot of section 69AQ(2) of the Duties Act 2000—
(a)for "Examples" substitute "Example";
(b)for "1 Person A acquires" substitute "Person A acquires";
(c)the second example is repealed.
10New section 69AQC inserted
After section 69AQB of the Duties Act 2000 insert—
"69AQC Application of Division to subdivided tax reform scheme land
(1)For the purposes of this Division, if tax reform scheme land is a lot (a child lot) in a registered plan of subdivision of tax reform scheme land (the parent lot)—
(a)the child lot is taken to have an entry interest of the same quantum as the entry interest for the parent lot; and
(b)if a further interest was acquired in the parent lot, the child lot is taken to have been the subject of the acquisition of a further interest of the same quantum as the further interest in the parent lot; and
(c)the entry interest and any further interest in the child lot is taken—
(i)to have been subject to the same duty consequences as the entry interest or further interest in the parent lot; and
(ii)to otherwise have the same characteristics, as far as practicable, as the entry interest or further interest in the parent lot.
(2)In this section—
further interest has the same meaning as in section 69AP;
lot has the meaning given by section 3(1) of the Subdivision Act 1988.
Examples
1. Person A acquires a 100% interest in land under a transfer of land. This is a qualifying interest in the land and the dutiable transaction is an entry transaction. Person A registers a plan of subdivision to subdivide the land (the parent lot) into 4 lots (the child lots). Person B acquires the child lots under 4 transfers of land. No duty is chargeable on these tax reform scheme transactions under section 69AP on the basis that the entry interest for each child lot is taken to be a 100% interest.
2. Person A acquires a 50% interest in land under a transfer of land which occurs on 1 January 2026. This is a qualifying interest in the land and the dutiable transaction is an entry transaction. Person B is the beneficial owner of the remaining 50% interest in the land. Person A and Person B register a plan of subdivision to subdivide the land (the parent lot) into 2 lots (the child lots). On 1 July 2027, Person C purchases a 50% interest in each child lot from Person B. Duty is chargeable on these tax reform scheme transactions as the entry interest for each child lot is taken to have the same quantum (50%), characteristics (acquired by Person A) and duty consequences as the entry interest for the parent lot, and the interest acquired by Person C is not the same, nor substantially the same, as the entry interest for each child lot.".
11New section 89FAC inserted
After section 89FAB of the Duties Act 2000 insert—
"89FAC Application of Division to subdivided tax reform scheme land
(1)For the purposes of this Division, if the land holdings of a landholder include tax reform scheme land that is a lot (a child lot) in a registered plan of subdivision of tax reform scheme land (the parent lot)—
(a)the child lot is taken to have an entry interest of the same quantum as the entry interest for the parent lot; and
(b)if a further interest was acquired in the parent lot, the child lot is taken to have been the subject of the acquisition of a further interest of the same quantum as the further interest in the parent lot; and
(c)the entry interest and any further interest in the child lot is taken—
(i)to have been subject to the same duty consequences as the entry interest or further interest in the parent lot; and
(ii)to otherwise have the same characteristics, as far as practicable, as the entry interest or further interest in the parent lot.
(2)In this section—
further interest has the same meaning as in section 89FA(6);
lot has the meaning given by section 3(1) of the Subdivision Act 1988.".
12Value of certain tax reform scheme land holdings to be excluded from duty assessment
In section 89FA(3)(b) of the Duties Act 2000, for "the person" substitute "a person".
PART 4—AMENDMENT OF FIRST HOME OWNER GRANT AND HOME BUYER SCHEMES ACT 2000
13Definitions and cross‑references
In section 3(1) of the First Home Owner Grant and Home Buyer Schemes Act 2000 insert the following definition—
"family violence has the same meaning as in section 4 of the Family Violence Protection Act 2008;".
14Criterion 3—Applicant (or applicant's partner) must not have been entitled to earlier grant
(1)In section 10(1) of the First Home Owner Grant and Home Buyer Schemes Act 2000, for "subsection (2)" substitute "subsections (2) and (3)".
(2)After section 10(2) of the First Home Owner Grant and Home Buyer Schemes Act 2000 insert—
"(3)An applicant is not ineligible if the grant was paid on an earlier application to which the applicant or the applicant's partner was a party and the Commissioner is satisfied that the person who was an applicant in the earlier application—
(a)does not reside in the home to which the earlier application relates because another person subjected the person or a family member of the person to family violence; and
(b)has not received and will not receive any financial benefit from the home to which the earlier application relates.".
15Criterion 4—Applicant (or applicant's partner) must not have had relevant interest in residential property
After section 11(3) of the First Home Owner Grant and Home Buyer Schemes Act 2000 insert—
"(4)Despite anything to the contrary in this section, an applicant is not ineligible if the applicant or the applicant's partner held a relevant interest in residential property and the Commissioner is satisfied that the person who held the relevant interest—
(a)does not reside in the residential property because another person subjected the person or a family member of the person to family violence; and
(b)has not received and will not receive any financial benefit from the residential property.".
PART 5—AMENDMENT OF LAND TAX ACT 2005
Division 1—Eligibility for certain benefits and concessions
16Absence from principal place of residence
(1)After section 56(1B) of the Land Tax Act 2005 insert—
"(1C)For the purposes of this Division, land is taken to be used and occupied as the principal place of residence of a natural person (not acting in the capacity of trustee of a trust) despite the person's absence from the land if the Commissioner is satisfied that—
(a)the absence is because another person subjected the person or a family member of the person to family violence; and
(b)in respect of the period of absence, no other land is exempt land under this Division or under a law of another jurisdiction (whether in or outside of Australia) as the principal place of residence of the person.".
(2)For section 56(5) of the Land Tax Act 2005 substitute—
"(5)The condition in this subsection is as follows—
(a)for the purposes of subsections (1) and (1A)—that the owner or trustee did not derive any income from the land in the year preceding the tax year;
(b)for the purposes of subsection (1C)—
(i)that the owner or trustee did not derive any income from the land in the year preceding the tax year; or
(ii)that the person referred to in subsection (1C) did not receive any income that was derived from the land in the year preceding the tax year.".
(3)In section 56(6) of the Land Tax Act 2005, after "subsection (1)" insert "or (1C)".
(4)In the note at the foot of section 56(6) of the Land Tax Act 2005, after "subsection (1)" insert "or (1C)".
(5)In section 56(7) of the Land Tax Act 2005 insert the following definition—
"family violence has the same meaning as in section 4 of the Family Violence Protection Act 2008;".
16AExemption continues if land becomes unfit for occupation
In section 58(2) of the Land Tax Act 2005, for "second" substitute "fourth".
17New section 70NA inserted
After section 70N of the Land Tax Act 2005 insert—
"70NA Commissioner may determine that land is eligible for BTR benefits in certain circumstances
The Commissioner may determine that land is eligible for a BTR benefit despite any period for which a dwelling in a BTR development on the land no longer satisfies a requirement in section 70B(1)(d) or (e) if—
(a)a BTR benefit applied to the land in the tax year preceding that period; and
(b)the dwelling is temporarily unsuitable for occupancy for that period; and
Examples
A dwelling may be temporarily unsuitable for occupancy because it is undergoing a brief refurbishment or because it has been damaged by a fire.
(c)the Commissioner considers that it is reasonable in the circumstances to disregard the dwelling not satisfying the requirement for that period.".
18Statute law revision
(1)In section 88EB of the Land Tax Act 2005 omit "(1)" (where first occurring).
(2)In section 88EC of the Land Tax Act 2005 omit "(1)" (where first occurring).
Division 2—Further miscellaneous amendments
19Requirements for trustees to notify Commissioner
(1)In the heading to section 46K of the Land Tax Act 2005, after "trustees" insert "and other persons".
(2)For section 46K(1), (2) and (3) of the Land Tax Act 2005 substitute—
"(1)A person who becomes the owner of land in Victoria as trustee of a trust, whether or not the person previously owned the land as trustee of a different trust, must lodge a written notice with the Commissioner within one month after becoming the owner of the land as trustee of that trust.
(2)A person who owns land in Victoria as trustee of a trust must lodge a written notice with the Commissioner within one month after the trust becomes a different category of trust.
Example
If a trust deed is varied so that a discretionary trust becomes an excluded trust, the trustee must notify the Commissioner within one month. The Commissioner may require the trustee to include information about the variation of the trust deed (including a copy of the deed and variation) and any other information necessary to prove that the trust has become an excluded trust.
(3)A person who becomes the owner of land in Victoria in any capacity other than as trustee of a trust must lodge a written notice with the Commissioner within one month after becoming the owner of the land in that capacity if, immediately before becoming the owner of the land in that capacity, the person owned the land as trustee of a trust.".
20Absence from principal place of residence
In section 56(5) of the Land Tax Act 2005—
(a)in paragraph (a), for "subsections (1) and (1A)" substitute "subsection (1)";
(b)after paragraph (a) insert—
"(ab)for the purposes of subsection (1A)—that the owner or trustee did not derive any income from the land in the year preceding the tax year, other than income derived from a part of the land that was used—
(i)to carry on a substantial business activity; or
Note
See section 62 regarding substantial business activities.
(ii)to provide accommodation in a separate residence;
Note
See section 62A regarding accommodation in separate residences.".
21Exemption continues on death of resident
For section 57(5) of the Land Tax Act 2005 substitute—
"(5)Subsection (1) does not apply in respect of a year if any income was derived from the land in the year preceding the tax year, other than income derived from a part of the land that was used—
(a)to carry on a substantial business activity; or
Note
See section 62 regarding substantial business activities.
(b)to provide accommodation in a separate residence.
Note
See section 62A regarding accommodation in separate residences.".
22What is a BTR development?
In section 70A of the Land Tax Act 2005, for "lease" substitute "rent".
23What is an eligible BTR development?
In section 70B(1)(e) of the Land Tax Act 2005, for "available for rent" substitute "genuinely offered for rent".
24What are the required rental terms?
(1)In section 70F(1) of the Land Tax Act 2005, for "available for rent" substitute "genuinely offered for rent".
(2)In section 70F(2) of the Land Tax Act 2005—
(a)for "elect" substitute "request";
(b)for "of a dwelling" substitute "in respect of a dwelling";
(c)for "any other period" substitute "a fixed term of at least the prescribed period or, if no period is prescribed, any period,".
(2A)After section 70F(2) of the Land Tax Act 2005 insert—
"(2A)The period (if any) prescribed for the purposes of subsection (2) must not exceed 12 months.".
(3)In section 70F(3) of the Land Tax Act 2005, for "The residential rental agreement" substitute "A residential rental agreement referred to in subsection (1) or (2)".
(4)After section 70F(3) of the Land Tax Act 2005 insert—
"(4)If a renter continues in occupation of a dwelling in a BTR development after the end of a residential rental agreement referred to in subsection (1) or (2), the dwelling continues to be rented in accordance with this section for the period in which the renter continues in occupation of the dwelling.
(5)For the purposes of subsection (2), the owner of a dwelling referred to in that subsection must ensure that a declaration is made in respect of the renter's request.
(6)A declaration under subsection (5) must be—
(a)in the form determined by the Commissioner; and
(b)signed by the owner of the dwelling and the renter.
(7)The Commissioner may request the owner of a dwelling referred to in subsection (2) to provide the Commissioner with a copy of a declaration made under subsection (5).
(8)The owner of a dwelling referred to in subsection (2) must comply with a request under subsection (7).
(9)If the owner of a dwelling referred to in subsection (2) does not comply with a request under subsection (7), the dwelling does not satisfy the requirement in section 70B(1)(e) for the period to which the residential rental agreement referred to in subsection (2) relates.
(10)Despite subsection (9), the Commissioner may determine that the dwelling does satisfy the requirement in section 70B(1)(e) for the period to which the residential rental agreement relates if the Commissioner considers that it is appropriate in the circumstances to disregard the owner's failure to comply with the request under subsection (7).".
25New clause 22 of Schedule 3 inserted
After clause 21 of Schedule 3 to the Land Tax Act 2005 insert—
"22 State Taxation Acts Amendment Act 2025
If a dwelling in a BTR development is rented under a residential rental agreement entered into before 1 January 2026 in accordance with section 70F as in force before 1 January 2026, the dwelling is, for the period of that agreement, taken to be rented under a residential rental agreement in accordance with section 70F.".
PART 6—AMENDMENT OF PAYROLL TAX ACT 2007
26Definitions
In section 3(1) of the Payroll Tax Act 2007, for the definition of regional employee substitute—
"regional employee has the meaning given in section 3B;".
27Meaning of regional employer
In section 3A(3) of the Payroll Tax Act 2007, for "any" substitute "every".
28New section 3B inserted
After section 3A of the Payroll Tax Act 2007 insert—
"3B Meaning of regional employee
A person is a regional employee in a month if—
(a)wages are paid or payable to the person in that month by an employer for or in relation to services performed by the person in Victoria (whether or not wages are also paid or payable to that person in that month for services performed elsewhere); and
(b)the services performed by the person in Victoria are performed mainly in regional Victoria.".
PART 7—AMENDMENT OF TAXATION ADMINISTRATION ACT 1997
29Amount of penalty tax
After section 30(1A) of the Taxation Administration Act 1997 insert—
"(1B)The Commissioner may increase the amount of penalty tax payable in respect of a tax default to 50% of the amount of tax unpaid if the Commissioner is satisfied that the tax default was caused wholly or partly by recklessness by the taxpayer (or a person acting on behalf of the taxpayer) as to the operation of a taxation law.
(1C)The Commissioner may increase the amount of penalty tax payable in respect of a notification default to 50% of the additional amount of tax that the taxpayer would have been assessed as liable to pay had the notification default not occurred if the Commissioner is satisfied that the notification default was caused wholly or partly by recklessness by the taxpayer (or a person acting on behalf of the taxpayer) as to the operation of section 34G, 46K, 61B, 61C, 61D, 61E, 61F, 70N, 104A or 104B of the Land Tax Act 2005, section 33 or 34 of the Commercial and Industrial Property Tax Reform Act 2024 or section 26 of the Windfall GainsTax Act 2021(as the case requires).".
30Objection
Before section 96(1)(ca) of the Taxation Administration Act 1997 insert—
"(caa)a valuation made for or on behalf of the Commissioner under section 4A of the Commercial and Industrial Property Tax Reform Act 2024; or".
31Grounds for objection
In section 97(3)(b) of the Taxation Administration Act 1997, after "under" insert "section 4A of the Commercial and Industrial Property Tax Reform Act 2024 or".
PART 8—AMENDMENT OF UNCLAIMED MONEY ACT 2008
32Definitions
In section 3(1) of the Unclaimed Money Act 2008—
(a)insert the following definition—
"repayment notice means a notice issued under section 35A(1);";
(b)in the definition of objector, after "section 56(1)" insert "or (1A)".
33Registrar may pay owner
(1)In section 33(1) of the Unclaimed Money Act2008, for "The owner" substitute "A person who claims to be the owner".
(2)After section 33(3) of the Unclaimed Money Act 2008 insert—
"(3A)The Registrar may make a payment under subsection (3) regardless of any payment previously made by the Registrar under that subsection.".
(3)After section 33(4) of the Unclaimed Money Act 2008 insert—
"(4A)Subsection (4) does not prevent the Registrar from making a subsequent payment with respect to the unclaimed money referred to in subsection (4).".
(4)Section 33(5) of the Unclaimed Money Act 2008 is repealed.
34New Division 1A of Part 4 inserted
After Division 1 of Part 4 of the Unclaimed Money Act 2008 insert—
"Division 1A—Repayment notices
35ARegistrar may issue repayment notice
(1)If the Registrar is no longer satisfied that a person to whom a payment has been made under section 33(3) is the owner of the unclaimed money to which the payment related, the Registrar may issue a written notice to the person requiring repayment to the Registrar of the amount paid under section 33(3).
(2)A repayment notice must specify—
(a)the grounds on which the notice is issued; and
(b)the amount that the person is required to repay; and
(c)the period within which the person is required to repay the amount.
(3)If a person to whom a repayment notice is issued does not repay the whole of the amount specified in the notice within the period specified in the notice, the person is liable to pay interest on the amount outstanding calculated on a daily basis from the end of the last day for repayment until the day it is repaid at the interest rate from time to time applying under Division 3.
(4)Interest is not payable under subsection (3) in respect of any failure to pay interest under this section.
(5)Despite subsection (3), a person to whom a repayment notice is issued is not liable to pay interest if the amount of the interest is less than $20.
(6)If judgment is given by, or entered in, a Court for an amount required to be repaid under this section, the interest rate referred to in subsection (3) continues to apply, to the exclusion of any other interest rate, until the amount is repaid to the Registrar.
(7)The Registrar, in such circumstances as the Registrar considers appropriate, may remit interest payable by a person under subsection (3) by any amount.
35BRegistrar may recover an amount specified in a repayment notice as debt due to the State
The Registrar may recover an amount specified in a repayment notice, including any interest calculated on the whole or part of that amount under section 35A(3), as a debt due to the State.
35CRegistrar may enter into arrangement with person to whom a repayment notice is issued
(1)The Registrar may enter into an arrangement (which may include provision for the payment of interest) for repayment of an amount specified in a repayment notice.
(2)The Registrar may write off the whole or part of an amount specified in a repayment notice if satisfied that action, or further action, to recover the amount outstanding is impracticable or unwarranted.".
35Objections
(1)After section 56(1) of the Unclaimed Money Act 2008 insert—
"(1A)A person to whom a repayment notice is issued may lodge a written objection with the Registrar if the person is dissatisfied with the decision to issue the notice.".
(2)In section 56(5) of the Unclaimed Money Act 2008—
(a)in paragraph (b), for "objector." substitute "objector; or";
(b)after paragraph (b) insert—
"(c)service of the repayment notice on the objector.".
(3)In section 56(6) of the Unclaimed Money Act 2008, after "trustee" insert "or the person".
36Referral to VCAT
In section 63(1) and (2) of the Unclaimed Money Act 2008, for "or decision made under section 30" substitute ", decision made under section 30 or repayment notice".
37Court appeals
In section 64(1) of the Unclaimed Money Act 2008, for "or decision made under section 30" substitute ", decision made under section 30 or repayment notice".
38Refund of amount
In section 66 of the Unclaimed Money Act 2008—
(a)in paragraph (a), for "the objector's" substitute "an objector's";
(b)in paragraphs (a) and (b), for "or decision made under section 30" substitute ", decision made under section 30 or repayment notice";
(c)after "paid" (where twice occurring) insert "or repaid".
39Payment of interest
(1)In section 67 of the Unclaimed Money Act 2008—
(a)after "this Part" insert "following a successful objection, review or appeal in respect of an assessment, reassessment or decision made under section 30";
(b)in paragraph (b)—
(i)for "decision made" substitute "decision";
(ii)for "objection and" substitute "objection,".
(2)At the end of section 67 of the Unclaimed Money Act 2008 insert—
"(2)In addition to an amount refunded under this Part following a successful objection, review or appeal in respect of a repayment notice, the Registrar is required to pay interest on the amount calculated at the market rate referred to in section 44(1)(a) on a daily basis from—
(a)the date of repayment of the amount that is refunded; or
(b)the date on which the Registrar issued the repayment notice to which the objection, review or appeal relates—
whichever is the later, until the date of the refund.".
40New section 106 inserted
After section 105 of the Unclaimed Money Act 2008 insert—
"106 Transitional provision—State Taxation Acts Amendment Act 2025
Section 33 does not apply in relation to any payment made by the Registrar under section 33(3) before the day on which section 34 of the State Taxation Acts Amendment Act 2025 comes into operation.".
PART 9—AMENDMENT OF VICTORIAN CONSERVATION TRUST ACT 1972
41Vacant Land Conservation Covenants Account
(1)In section 9(3) of the Victorian Conservation Trust Act 1972 omit "in relation to specified land".
(2)In section 9(6) of the Victorian Conservation Trust Act 1972—
(a)in the definition of VLCC Account, for "subsection (1);" substitute "subsection (1).";
(b)the definitions of non‑residential zone, specified land and zone are repealed.
42Schedules 1 and 2 repealed
Schedules 1 and 2 to the Victorian Conservation Trust Act 1972 are repealed.
PART 10—REPEAL OF THIS ACT
43Repeal of this Act
This Act is repealed on 1 January 2027.
Note
The repeal of this Act does not affect the continuing operation of the amendments made by it (see section 15(1) of the Interpretation of Legislation Act 1984).
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ENDNOTES
1 General information
See for Victorian Bills, Acts and current authorised versions of legislation and up‑to‑date legislative information.
Minister's second reading speech—
Legislative Assembly: 27 May 2025
Legislative Council: 28 May 2025
The long title for the Bill for this Act was "A Bill for an Act to amend the Commercial and Industrial Property Tax Reform Act 2024, the Duties Act 2000, the First Home Owner Grant and Home Buyer Schemes Act 2000, the Land Tax Act 2005, the Payroll Tax Act 2007, the Taxation Administration Act 1997, the Unclaimed Money Act 2008 and the Victorian Conservation Trust Act 1972 and for other purposes."
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