Victorian government announces tax relief for bushfire victims
The Victorian government has announced it will provide tax relief for people who have been directly impacted by the tragic bushfires sweeping the state.
The Victorian government has announced that businesses, families, and individuals whose properties have been destroyed or substantially damaged by bushfires will receive ex-gratia relief for their 2020 land tax assessment.
Land tax will be also be waived on eligible properties being used to provide free accommodation for people who need it.
For people who decide not to rebuild in their local community, the government will provide up to $55,000 in stamp duty relief if they buy in another area.
The government’s announcement was welcomed by the Housing Industry Association (HIA).
“HIA fully supports the Victorian government getting behind those who have been displaced in this bushfire emergency,” said Victorian executive director Fiona Nield.
“Taxes such as stamp duty, and land tax, are a major impediment to people buying or building a home and by significantly reducing these fees people will hopefully be able to return to a new house sooner and get their lives back on track with as little angst as is possible.
“When you have to pick up and start again the prospect can be made even more daunting by the costs and taxes you don’t think about.”
HIA noted it will be working with the government over the coming weeks and months to ensure a smooth transition can be made by the hundreds of affected families.
“At this time of great hardship for those affected, it’s the small things that alleviate financial suffering that count the most. This move will go some ways to alleviating some unnecessary worries,” concluded Ms Nield.