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