The Law Handbook 2024

Chapter 5.5: Taxation 407 charge can be considerable. The Victorian Government imposes stamp duty on the following types of transactions: • assignments and transfers of land; • insurance contracts; • declarations of trust over land; • transfer or assignment of trust interests; • some long-term leases; and • applications for motor vehicle registration. There are, however, a number of exemptions from stamp duty, such as where the transactions relate to a marriage breakdown and wills. Duty is no longer charged in Victoria on mortgages and transfers of shares in Victorian companies. Land tax Land tax is payable under the Land Tax Act 2005 (Vic) and is levied annually on the unimproved value of all land you own at 31 December in the year preceding the assessment year, other than your principal residence. Contacts Administrative Appeals Tribunal (AAT) Level 4, 15 William Street, Melbourne Vic 3000 Tel: 1800 228 333 Email: generalreviews@aat.gov.au Web: www.aat.gov.au Australian Taxation Office (ATO) Tel: 13 28 61 Web: www.ato.gov.au Inspector-General of Taxation (IGT) Tel (complaints): 1300 448 829 Tel (admin): (02) 8239 2111 Web: www.igt.gov.au State Revenue Office Victoria Tel: 13 21 61 Web: www.sro.vic.gov.au