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The Windfall Gains Tax and State Taxation and Other Acts Further Amendment Act 2021 (the Act) received Royal Assent on 30 November 2021.

The Act includes revenue and tax relief initiatives announced as part of the 2020–21 and 2021-22 Victorian Budgets, as well as the introduction of a new windfall gains tax and changes to several Acts we administer.

2021–22 Budget measures

Windfall gains tax

The Act will implement a new Act called the Windfall Gains Tax Act 2021 to establish the windfall gains tax from 1 July 2023. The windfall gains tax will be administered by the SRO.

Find out more about the Windfall Gains Tax.

Point of consumption keno tax

The Gambling Regulation Act 2003 has been amended to introduce a new point of consumption framework for the taxation of keno from 15 April 2022. The administration of keno tax will also transfer to the SRO.

Land tax for private gender-exclusive clubs

The Land Tax Act 2005 has been amended to remove the land tax exemption for not-for-profit club land from private gender-exclusive and gender-restrictive clubs from the 2022 land tax year. Subject to a determination of the Commissioner of State Revenue (Commissioner), the exemption may be reinstated for gender-exclusive or gender-restrictive clubs that demonstrate a community benefit, or for gender-restrictive clubs, that have genuinely opened their membership to all sexes and gender identities.

Find out more about this amendment

2020–21 budget measures

Build-to-rent land tax benefits

The Land Tax Act 2005 has been amended to provide eligible build-to-rent developments with a 50% discount on the taxable value of the development land and an exemption from the absentee owner surcharge in respect of that land. These benefits commence from the 2022 land tax year and may apply for up to 30 years if certain requirements are met.

Other measures

Motor vehicle duty exemption

The Duties Act 2000 has been amended to extend the motor vehicle duty exemption for private vehicles modified to carry a wheelchair and used to carry an incapacitated person to vehicles that are converted for wheelchair access within 12 months of registration or transfer.

Charitable land tax exemption 

The Land Tax Act 2005 has been amended to limit the exemption in respect of charities to land that is both used and occupied by a charity exclusively for charitable purposes. Land (including a part of land) owned by the charity, but used or occupied by a commercial or business entity, will not be exempt. 

The exemption for vacant land owned by a charity and declared to be held for future charitable use is also being amended to include a two-year time limit. To receive the exemption, the charity will need to satisfy the Commissioner that the land will be used and occupied exclusively for charitable purposes within two years or a longer period approved by the Commissioner.

Land tax exemption for land leased for outdoor sporting, recreational or cultural activities

The Land Tax Act 2005 has been amended to restrict the exemption for land leased for outdoor sporting, recreational or cultural activities to land owned by a charity from the 2022 land tax year.

This amendment does not affect the separate exemption for land owned by non-profit organisations and used primarily or substantially by the organisation for outdoor sporting, outdoor recreational or outdoor cultural activities.

Emergency tax relief provisions

The Taxation Administration Act 1997 has been amended to confirm that a taxpayer cannot object to an assessment or decision on any ground relating to emergency tax relief measures.

The Act has also been amended to allow future emergency tax relief measures to include offsets of a refund of tax against another tax liability of the taxpayer.

Administrative overpayments

The Taxation Administration Act 1997 has been amended to authorise the Commissioner to recover administrative overpayments that cannot be recovered with existing tax assessment powers. An administrative overpayment is an amount that the Commissioner has paid to a person due to a clerical or mathematical mistake, which the person is not entitled to under a taxation law.

Water regulation amendments

The Essential Services Commission Act 2001, Water Act 1989 and Water Industry Act 1994 have been amended to allow the price regulation of bulk water services and other water storage, delivery and drainage services in the Murray Darling Basin by the Essential Services Commission to transition from a Commonwealth-based to a State-based legislative framework. 


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