The Commercial and Industrial Property Tax Reform Act 2024 received Royal Assent in May 2024. The full text of the Act can be found on the Victorian Legislation website.
Treasurer's media release: Backing Victorian Business By Abolishing Stamp Duty
Tax reform
Information on the final design of the commercial and industrial property tax reform is provided in the information sheet below.
Further information on the Commercial and Industrial Property Tax Reform is available on the State Revenue Office (SRO) website. You can also register for SRO education events.
Transition loan
To help businesses transition, eligible purchasers will have the option of accessing a government transition loan for the final stamp duty payment, allowing them to avoid upfront lump sum payments.
The transition loan will be issued by the Treasury Corporation of Victoria.
The interest rate will be equal to a base rate (based on government borrowing costs) plus a risk margin determined annually by the Treasurer (set at 2.25 per cent for 2024-25).
Further information on the transition loan, such as the application process and loan terms and conditions, will be published by the Treasury Corporation of Victoria before the commencement of the reform on 1 July 2024.
Pursuant to section 36R of the Treasury Corporation of Victoria Act 1992, the Treasurer has issued a Transition Loan Notice to the Treasury Corporation of Victoria.
Further Information
For further enquiries on the Commercial and Industrial Property Tax Reform please contact information@dtf.vic.gov.au.