Who must pay Victorian land tax (including absentee owner surcharge)?

VIC land tax applies on aggregated taxable value above $50K (general) / $25K (trust); absentee owner +4% surcharge.

Land tax under the Land Tax Act 2005 (Vic) is an annual tax on the total taxable value of land owned in Victoria, using site values supplied by the Valuer-General. It falls on residential investment properties, commercial and industrial property, vacant land and holiday homes owned by individuals, companies or trusts; the owner's home (principal place of residence), primary production land, rooming houses and charitable institutions can be exempt. Since 1 January 2024 it applies where total taxable holdings are $50,000 or more for individuals, or $25,000 or more for land held on trust, and is calculated on a sliding scale with different rates by type of owner. An absentee owner surcharge of 4% applies from the 2024 land tax year on top of the general and trust surcharge rates. Each distinct combination of joint owners is assessed separately.

Triggered by owning or buying land — the questionnaire does not ask about property holdings. The Rules Mate questionnaire does not treat this as an obligation for an ordinary business.

How the regulator frames it: Individuals, companies and trustees owning taxable land in Victoria at midnight on 31 December, where total taxable value reaches the threshold ($50,000 for individuals; $25,000 for land held on trust). Absentee individuals, corporations and trusts also pay the absentee owner surcharge.

What triggers it: Owning taxable land at midnight on 31 December of the previous year; a seller remains liable for the full year's land tax. Owners must also notify the SRO of changes that affect liability, such as moving out of a home, building or renovating, or starting to lease it.

Threshold: Total taxable land value of $50,000 or more (individuals) or $25,000 or more (trusts), from 1 January 2024.

Jurisdiction: Victoria law only. A business with no operations in VIC is outside it, whatever the rest of the test says.

Outcome across the 35 industries Rules Mate maps (35 of 35: no).

The answer is the same in every industry: no. Industry does not change who must comply.

Structure does not change the answer across all industries: for every structure the answer is "no".

Size does not change the answer across all industries: at every size band the answer is "no".

Each line is one run of the Rules Mate applicability engine for a single business profile, with the reason the engine gives:

• Pty Ltd company in real estate agents with 6–19 employees, turnover $1M–$3M: does not apply. Triggered by owning or buying land — the questionnaire does not ask about property holdings.

When due

Assessments are generally issued between January and June each year; payment is due 12 weeks after the issue date, or by instalments under an Autopay payment plan.

Frequency

Annual

Evidence to keep

Land tax assessment notices (viewable for the last 5 years in My Land Tax); principal place of residence and other exemption applications; trust nominations and trustee notifications of beneficial interests or unitholdings; absentee owner status notifications; records supporting any objection.

Status

Current

Priority

High

Maximum penalty: Penalty tax on unpaid tax arising from a tax default or notification default: 25% for failing to take reasonable care, 50% for recklessness and up to 75% for intentional disregard of the law (rising to 90% where information is hidden or an investigation obstructed), reduced for voluntary disclosure. Interest is charged on unpaid tax and penalty tax at 12.43% a year for 1 July 2026 to 30 June 2027.

Rules Mate has not yet classified the audit or assurance level for this obligation. Any audit, review or certification requirement is set by the regulator source listed below.

If this obligation applies to you, so do these 5: the engine uses the same rule for each.

• Pay NSW land tax
• Pay Victorian stamp duty on residential property
• Pay NSW transfer duty on residential property acquisitions
• Pay Queensland land tax
• Pay QLD transfer duty on residential property

• Pay Victorian payroll tax when threshold met: VIC: 4.85% on Australian wages above the $1 million tax-free threshold (FY2026-27).

Rules Mate tracks 37 published obligations tagged "tax", 6 of them rated critical. For a professional services Pty Ltd company with 6–19 employees operating in every state, 7 of those apply outright. This obligation is rated high priority, and is a annual obligation.

Regulated by State Revenue Office Victoria.

SRO Victoria: Victorian state revenue — payroll tax, land tax, duties, windfall gains tax.

• State Revenue Office Victoria

Free tools that help with this obligation:

• GST registration scope
• FBT calculator
• Compliance calendar builder