As part of the 2011-2012 State Budget, the Victorian Treasurer announced that Victoria will adopt a 'landholder' duty model to replace the 'land rich' duty model from 1 July 2012. Overall, the proposed landholder duty model represents a broadening of the duty base that currently exists under the land rich duty model. What a surprise; a government broadening its tax base!
Minter Ellison have written an article about the proposed changes and the call by the State Revenue Office for comment. See: http://bit.ly/qmG8IA
