The application of vacant residential land tax to holiday homes has caused much anxiety recently, particularly where that holiday home is held in a trust.

It’s the festive season, which for many involves staying at a holiday home. Grinch-like, the Victorian Government’s recent expansion of the vacant residential land tax (VRLT) rules could potentially have subjected these properties to VRLT where they were held by a trust or company. Happily (for some), an exemption from VRLT for holiday homes has recently been extended to land held by trusts and companies continuously since 28 November 2023. An early Christmas present has also arrived by way of further refinements to the exemption.

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