Victorian commercial stamp duty legislation set to change July 1st
Victoria’s rising debt is being blamed on the business community.
Much of Victoria’s latest budget has been focused on the rising debt bill and the amount of interest the state will have to pay.
Before an audience of CEOs, community leaders, and the media, Victoria’s Treasurer revealed stamp duty changes for businesses, which the industry asked for and which have added to the debt pile.
Victorian commercial stamp duty legislation set to change July 1st
Instead of stamp duty, commercial property owners will pay a fixed land tax on July 1st.
The state’s Treasurer says the balance sheet would be better positioned without stamp duty concessions.