VIC: Tax relief for bushfire victims

AAP General News (Australia)
02-19-2009
VIC: Tax relief for bushfire victims

MELBOURNE, Feb 19 AAP - The Victorian government has introduced tax relief measures
to help those affected by the bushfires.

Anyone who has had their property damaged or destroyed by this month's fires would
have their land tax bills put on hold while the State Revenue Office (SRO) reviewed each
case individually, Treasurer John Lenders said.

Land tax is normally levied on investment properties or businesses with a land value
over $250,000.

Businesses left unable to operate will also have their case reviewed.

"This new arrangement will help relieve the financial burden on land owners affected
by the bushfires by allowing the SRO to identify those properties destroyed by the bushfires
and offer tax relief," Mr Lenders said.

In further measures, the first $1050 of stamp duty on a vehicle for those families
who lost one in the fires will be waived by the government.

People rebuilding their homes will also have the first $21,970 of stamp duty on their
new home waived if they build that home on a different site.

This means no stamp duty would be paid on houses up to $500,000, Mr Lenders said.

People rebuilding on a property they already own, do not have to pay stamp duty.

Other fees relating to the administrative costs of building new homes and taking out
titles will also be put on hold for bushfire victims.

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KEYWORD: BUSHFIRES VIC TAX

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