A payroll tax exemption from 1 July 2025 will apply to employers of contractor or employee GPs who provide bulk-billed consultations.

The rules for the Commercial and Industrial Property Tax (CIPT) regime (which replaced stamp duty on commercial/industrial land from 1 July 2024) will be expanded so that certain “non-standard transactions” (leasing, fixtures, economic entitlements) are exempt from duty if appropriate duty was paid earlier.

The Vacant Residential Land Tax (VRLT) will be clarified/adjusted: for example the “holiday-home exemption” will extend to land owned by companies/trusts if certain conditions are met, and unimproved residential land will be caught from 1 January 2026 (if vacant for 5 years).

The Foreign Purchaser Additional Duty (FPAD) and the Absentee Owner Surcharge (AOS) rules will be tightened for certain non-residents (including New Zealand citizens) to ensure the taxes operate as intended.

A new land tax exemption will be introduced for land owned, controlled or managed by a charitable institution that is occupied or available to be occupied exclusively in connection with the institution’s charitable purpose of relief of poverty.

Friendly societies will lose some of their old stamp duty and insurance duty exemptions, because those special tax breaks are being phased out and no longer match how the tax system works today. Friendly societies will be treated more like normal financial companies for tax purposes, instead of getting long-standing special treatment that dates back many decades.

The Valuation of Land Act 1960 will be amended to finish updating who does valuations (moving it fully to the Victorian Valuer?General) and remove older transitional rules that were used while the system changed over.

The rules for objecting to a land valuation will be simplified: instead of having separate grounds (too high or too low), a person can object simply on the basis that the valuation is incorrect. The change is designed to make review processes clearer and fairer.

several technical fixes will go into related Acts (like the Fire Services Property Levy Act 2012, the Local Government Act 1989 and the Taxation Administration Act 1997) so that references to who does the valuation or how notices are served are consistent across laws.