What are some of the criteria that may mean that a rezoning of land is exempt from windfall gains tax?
James Hamblin, Special Counsel at MinterEllison, speaks with LPLC's Phil Nolan and outlines some of the potential exemptions from WGT.
Windfall Gains Tax and State Taxation and Other Acts Further Amendment Act 2021
Windfall Gains Tax Exemptions and Exclusions
Windfall Gains Tax Residential Land Exemption
The new Windfall Gains Tax (WGT) introduced by the Windfall Gains Tax and State Taxation and Other Acts Further Amendment Act 2021 commences on 1 July 2023.
In broad terms, WGT applies to land rezoned after 1 July 2023.
Practitioners need to be across the issues now, particularly if negotiating long term sale contracts, or options, that will settle after that date that may then be subject to the WGT.
We've put together information and resources to help lawyers understand the legislation, manage the associated risks and provide guidance about how to act now to avoid surprises later.
What are the key dates to pay attention to when it comes to Windfall Gains Tax (WGT)?
James Hamblin, Special Counsel at MinterEllison, speaks with LPLC's Phil Nolan and outlines the WGT dates to be aware of.
In broad terms, the WGT applies to land rezoned from 1 July 2023, but practitioners need to be across the key dates and issues ahead of time, particularly if negotiating long term sale contracts, or options, that will settle after that date that may then be subject to the WGT.
The new Windfall Gains Tax (WGT) will potentially impact real estate transactions that your clients enter into now, if those transactions relate to land in Victoria that is rezoned on or after 1 July 2023.
Clients should be alerted to the potential tax liability and how it may apply to them.
We are united in our shock and sorrow following the horrific attacks that took place at Bondi Beach yesterday evening.
Our thoughts are with the victims, their families and all those who have been tragically affected by this abhorrent violence. This has particularly impacted the Jewish community of Sydney and across Australia, a community that is an integral and cherished part of our multicultural society.
We stand in solidarity with the Jewish community and all who have been affected by this senseless violence. Everyone has the right to safety, security and freedom from fear.
We condemn these acts of antisemitism, extremism and violence in the strongest possible terms. We reaffirm our commitment to the rule of law, which underpins the safety and security of all in Australia.
We are united in our resolve that such acts of violence and hate will not undermine the values of inclusion and fundamental freedoms, including of religion and other rights, which define our community.
The LPLC is proud to present the Annual Report for 2024-2025. This high was tabled in the Victorian Parliament on 12th of November 2025.
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