consideration

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New Draft Victorian Revenue Ruling imposes stamp duty on apportioned land tax and windfall gains tax

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New Draft Victorian Revenue Ruling imposes stamp duty on apportioned land tax and windfall gains tax

The Victorian State Revenue Office has issued a draft revenue ruling “Land transfer duty - Consideration - Assumption of tax liabilities” for comment that seeks to impose a new stamp duty on adjustments at settlement of property transfers.  This is an Australian first tax and will penalise commercial and other property transfers.

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Alphington Developments Pty Ltd v Commissioner of State Revenue – payments made by vendor could not reduce purchase price for stamp duty purposes

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Alphington Developments Pty Ltd v Commissioner of State Revenue – payments made by vendor could not reduce purchase price for stamp duty purposes

The Victorian Supreme Court in Alphington Developments Pty Ltd v Commissioner of State Revenue [2025] VSC 709 considered the dutiable value for a transfer of land under paragraph 20(1)(a) of the Duties Act 2000 (Vic) and whether payments required to be made by the vendor under a contract were able to reduce the headline purchase price for stamp duty purposes.