From pointonpartners.com.au: The Absentee (Foreigner) Land Tax Surcharge in Victoria is a tax applied to foreign property owners, set to increase to 4% starting in 2024, covering all land types.

It affects absentee individuals, corporations, and trusts, with specific provisions allowing exemptions at the Treasurer’s discretion based on contributions to the economy and good corporate behaviour.

Australian citizens residing overseas are exempt from this surcharge, despite occasional incorrect impositions, and successful objections can be lodged against such cases.