Business and Industry

Owners Must Act to Avoid Vacant Residential Land Tax

Property owners who are subject to land tax have been receiving emails from the Victorian State Revenue Office (SRO) reminding them of their obligations in relation to the Vacant Residential Land Tax (VRLT). Owners may need to adjust their rental strategies or explore exemption options to avoid accumulating substantial Vacant Residential Land Tax debts.

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Beware: Only a Week to Go Before 3G Shuts Down

Members of the community are warned that there is just over a week until the 3G network shuts down. Small and family businesses are warned to make sure they do not have their vital business systems and equipment fail when the 3G network is switched off on 28 October.

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Cinema to Return to the Rex

The beloved Daylesford community cinema is poised to make a comeback, thanks to the persistent efforts of the Daylesford Cinema Group. A deal has been struck with the new owners of The Rex which will allow the group to lease the upper floor of the building and complete the cinema shell started as part of the abandoned Rex project.

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Historic Hepburn Bathhouse Lease Renewed

Hepburn Shire Council has renewed the lease to Belgravia Leisure, the current tenant at the historic Hepburn Bathhouse & Spa. The agreement involves Council investment in some structural and drainage works and a $2 million investment by Belgravia Leisure in capital works.

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Short Term Stays Levy is a Blow to the Local Economy

The Victorian Government has announced plans to introduce a 7.5% levy on short stay on total revenue raised through online accommodation platforms to apply from 1 January 2025. The levy will likely increase short stay accommodation prices and may drive many owners out of the market.

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Pathway Essentials Supporting Youth

Pathway Essentials have opened a café ‘Cooked Diner’ in Howe Street. Young people who have disengaged are employed and develop skills in hospitality as part of the Pathway Essentials program.

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Tax Slug for Short Term Rentals – Vacant Residential Land Tax

Local property investors run the risk of being hit with a massive additional state tax if they fail to comply with the Vacant Residential Land Tax (VRLT) requirements. From 1 January 2025, VRLT will apply to residential land across all of Victoria if the land is vacant for more than 6 months in the preceding calendar year.

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