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Windfall Gains Tax – impact for landowners, purchasers and developers

Windfall Gains Tax – impact for landowners, purchasers and developers

The Windfall Gains Tax is Victoria’s newest property tax, which will apply to certain rezonings of land from 1 July 2023 onwards.

Since being announced last year, it has attracted significant attention and controversy due to the impact on property development transactions and the market more generally, as well as the challenges it is already creating for landowners, purchasers and developers.

Pitcher Partners’ Craig Whatman and Irina Tan will be joined by a panel of experts to discuss the implications of the Windfall Gains Tax for owners and developers, their first-hand experience with transactions that are being impacted by this new tax and valuation issues that will play an important role moving forwards.

This seminar covers the following topics:

  • How the Windfall Gains Tax works and what it will apply to
  • Deferral provisions and their impact on future transactions
  • Exemptions, concessions and transitional rules
  • The importance of the valuation process and valuation objections
  • Watch-outs and planning tips for landowners, purchasers and developers in the lead up to 1 July 2023
  • Impact on the market and property development transactions

The information presented in this webinar was accurate at the time of recording, 13 October 2022.
This content is general commentary only and does not constitute advice. Before making any decision or taking any action in relation to the content, you should consult your professional advisor. To the maximum extent permitted by law, neither Pitcher Partners or its affiliated entities, nor any of our employees will be liable for any loss, damage, liability or claim whatsoever suffered or incurred arising directly or indirectly out of the use or reliance on the material contained in this content. Pitcher Partners is an association of independent firms. Pitcher Partners is a member of the global network of Baker Tilly International Limited, the members of which are separate and independent legal entities. Liability limited by a scheme approved under professional standards legislation.

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