VIC Land Tax Calculator
This VIC land tax calculator will estimate the amount of land tax you need to pay for your taxable properties in VIC.
The VIC land tax is calculated on the combined taxable land value of the properties you have in VIC. Wonder what are the current VIC land tax rates and thresholds? You can find the current rates and thresholds which are outlined in the Land Tax Threshold VIC table below.
Calculator assumptions:
(1) It assumes that all your properties are located in VIC.
(2) It does not factor in any exemptions, concessions, or discount from the government.
(3) It does not factor in absentee owner surcharge or trust surcharge.
(4) Rounding: The land tax is rounded to at least the nearer cent.
Who needs to pay the VIC land tax?
You may have to pay land tax if you own, by yourself or with others, any of the following in Victoria:
* Rental / investment properties,
* Commercial properties such as retail shops, office premises and factories,
* Holiday homes,
* Vacant land,
* Any other non-exempt land
You pay land tax when the total value of all the Victorian property you own as at 31 December, minus exempt land such as your home, is equal to or exceeds the threshold of $50,000 each calendar year (for trustees, it's $25,000). This means the value of all the taxable property you own at midnight on 31 December this year will determine if the VIC government needs to assess you for land tax and sends you a bill by May of next year.
How is the VIC land tax calculated?
The VIC land tax is calculated using the appropriate VIC land tax rate and applying this to the total taxable value of your land holdings (excluding exempt land such as your home). The total taxable value of your land holdings is based on the site value determined by your council or the Valuer-General every two years. You can find your site value on your council rates notice.
Land Tax VIC - Rates
Below is the table of VIC Land Tax rates:
| Taxable land value | Land tax rates |
|---|---|
| < $50,000 | Nil |
| $50,000 to < $100,000 | $500 |
| $100,000 to < $300,000 | $975 |
| $300,000 to < $600,000 | $1,350 plus 0.3% of amount > $300,000 |
| $600,000 to < $1,000,000 | $2,250 plus 0.6% of amount > $600,000 |
| $1,000,000 to < $1,800,000 | $4,650 plus 0.9% of amount > $1,000,000 |
| $1,800,000 to < $3,000,000 | $11,850 plus 1.65% of amount > $1,800,000 |
| $3,000,000 and over | $31,650 plus 2.65% of amount > $3,000,000 |
| Absentee owner surcharge is 4% of the Combined Taxable Land Value. | |
VIC Absentee Owner Surcharge
From 2016, absentee owners of land in Victoria pay a land tax surcharge.
The absentee owner surcharge is an additional amount that applies over the land tax you pay at general and trust surcharge rates. The surcharge rate from 1 January 2024 year is 4 per cent of the Combined Taxable Land Value.
An absentee owner can be an absentee individual, an absentee corporation or an absentee trust.
An absentee individual is a foreign citizen who does not ordinarily live in Australia and who was either away from Australia on 31 December in the prior year, or was away from Australia for more than six months in the prior year.
If you are an Australian citizen, permanent resident or a New Zealand citizen with a special category visa, you do not have to pay the surcharge.
An absentee corporation is a corporation that is incorporated outside of Australia, or a corporation where more than half of its shares are held by absentee individuals, absentee corporations or absentee trusts.
An absentee trust is a trust where one or more of the beneficiaries or unit holders of that trust are an absentee individual, an absentee corporation or an absentee trust.