Following the recent Victorian bushfires, the Victorian Government passed legislation in April 2020 to bring forward the 50% stamp duty discount for contracts entered into on or after 27 January 2020 to buy commercial or industrial property in bushfire affected local government areas (LGAs).
On 13 September 2020, the Victorian Government announced that the 50% stamp duty discount for commercial and industrial property across all of regional Victoria will be brought forward to 1 January 2021.
There is no limit to the number of times a person can claim this relief. To qualify, the dutiable property must be used solely or primarily for a qualifying commercial or industrial land use for a continuous period of at least 12 months, commencing in the two years following the date of transfer. Its status as commercial or industrial property is determined by reference to the land uses set out in the Australian Valuation Property Classification Codes.