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OtherAlexandra CainFri 22 Oct 21

[+] Undersupply, Windfall Tax Cloud Melbourne Property Pipeline

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The proposed Victorian windfall gains property tax has the potential to completely change land prices across the state.

Meanwhile, developers have never been more hungry for land in an increasingly tightly held market.

The windfall gains tax, which comes into effect in 2023, will mean any capital gains developers enjoy from rezoning will be taxed at 50 per cent—for example, if the land is rezoned from industrial to mixed-use or industrial to residential.

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IndustrialResidentialAustraliaMelbourneReal EstateSector
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Alexandra Cain
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Article originally posted at: https://www.theurbandeveloper.com/articles/undersupply-windfall-tax-clouding-melbourne-property-future