Victoria to abolish stamp duty for non-residential properties

Gus McCubbing, Michael Bleby and Samantha Hutchinson

May 23, 2023 – 8.47am

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The Victorian government will abolish stamp duty for commercial and industrial properties and replace it with an annual property tax in a move it says will inject $50 billion to the state economy.

From July 1 next year, commercial and industrial properties will transition to the new system as they are sold, and the annual property tax will be payable from 10 years after the transaction.

Gus McCubbing is a journalist at the Australian Financial Review in Melbourne.

Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne.

Samantha Hutchinson is the AFR's National Reporter. Most recently, she was CBD columnist for The Sydney Morning Herald and The Age. Before that, she covered Victorian and NSW politics and business for The Australian, the AFR and BRW Magazine.