From www.dbalawyers.com.au: The Victorian government has introduced several new or increased taxes, including the Commercial and Industrial Property Tax (CIPT) starting from 1 July 2024, which will replace transfer duty with an annual tax based on the property’s unimproved value.

Other notable taxes include the Windfall Gains Tax (WGT) applied to land gaining value from rezoning, and the Vacant Residential Land Tax (VRLT), effective 1 January 2025, which targets vacant properties not used for over six months in the previous year.