Update your windfall gains tax assessment
Options to change or formally object to your assessment.
Key information
You must tell us if there are any errors on your assessment. Contact us within 60 days of the issue date of your assessment or penalties may apply.
If you do not agree with a valuation or your assessment, you can object.
Request a change
If you need to update your assessment, email windfallgainstax@sro.vic.gov.au.
Failing to notify us of an error or omission is a notification default under the Taxation Administration Act 1997 and penalties may apply. For details, refer to:
- Revenue Ruling TAA-008v2 – notification defaults
- Revenue Ruling TAA-007v5 – interest and penalty tax.
Object to a valuation
Windfall gains tax is based on the capital improved value of your land. Capital improved value means the value of the land plus the buildings on it and any other capital improvements.
If you do not agree with a valuation, you can lodge a valuation objection with us. You must lodge your valuation objection within 2 months of receiving your assessment.
You must provide the grounds on which you are contesting the valuation.
Formally object to your assessment
If you believe your assessment is incorrect, you can lodge a formal objection to challenge its legal basis.
Objections must be based on legal grounds. Claims such as the tax being too high, financial hardship or personal circumstances are not considered valid.
To object to your assessment, you must clearly explain your reasons in writing.
You can object in writing by post or completing our online form (use one method only). You must lodge your objection within 60 days of the issue date of the assessment.
Even if you object, you still need to pay or defer your windfall gains tax by the due date or you will be charged interest. If your objection is successful, we will refund any overpaid amount with interest.