Windfall gains tax
From 1 July 2023, windfall gains tax applies to land that is rezoned by certain planning scheme amendments, which result in a value uplift to the land of more than $100,000.
The taxable value uplift is the difference in the capital improved value of the land before and after the rezoning takes effect. Owners of land liable to pay will have the option to defer payment of all or some of the tax liability until the next dutiable transaction or relevant acquisition occurs or 30 years after the rezoning event, whichever occurs first.
The tax is administered by the Commissioner of State Revenue as a taxation law under the Taxation Administration Act 1997.
Casino tax
On 1 July 2023, the collection and administration of casino tax transferred from the Victorian Gambling and Casino Control Commission to the State Revenue Office.
A casino operator must now register with the Commissioner of State Revenue to lodge returns, pay casino tax and pay the community benefit levy under the provisions of the Gambling Taxation Act 2023.
In 2023–24, we collected $158.3 million in casino tax and $8.7 million for the community benefit levy, which is 1% of a casino operator’s total gaming revenue in a month and is paid into the Victorian Government’s Hospitals and Charities Fund.