SRO notification due 15 January 2025 – Vacant Residential Land Tax

As we step into 2025, property owners in Victoria need to be aware of the upcoming deadline to declare their property’s status. Notifications for vacant residential land tax and the land tax absentee owner surcharge are due by 15 January 2025.

The Vacant Residential Land Tax (VRLT) is payable in addition to regular land tax and may apply if you own:

• residential land with an existing home on it that was vacant for more than 6 months in 2024
• residential land with a home on it that has been under construction or renovation for 2 years or more
• residential land with a home on it that has been uninhabitable for 2 years or more.

Who is Affected?

If you own residential land that has been vacant for more than six months in 2024, you may be liable to pay the VRLT. This includes properties that are not being used as a principal place of residence or are not subject to an exemption.

Key Exemptions

There are several exemptions to the VRLT, including:

• Properties undergoing substantial renovations
• Land that has recently changed ownership
• Properties used for holiday homes (with certain conditions).

How to Declare

Property owners must submit their declaration through the State Revenue Office’s website as to notify of vacant residential properties and apply for any appliable exemptions.

Further information

If you’d like further information or advice as to whether you are liable to pay VRLT or may be entitled to an exemption, please be in touch with our Property & Development team.