The Housing industry Association (HIA) welcomes the Victorian Government’s announcement that it will provide tax relief for those people who have been directly impacted by the tragic bushfires sweeping the state, Victorian Executive Director Fiona Nield said.
The Victorian Government has announced that businesses, families, and individuals whose properties have been destroyed or substantially damaged by bushfires will receive ex-gratia relief for their 2020 land tax assessment. Land tax will be also be waived on eligible properties being used to provide free accommodation for people who need it.
For people who decide not to rebuild in their local community, the Government will provide up to $55,000 in stamp duty relief if they buy in another area.
“HIA fully supports the Victorian Government getting behind those who have been displaced in this bushfire emergency,” said Ms Nield.
“Taxes such as stamp duty and land tax are a major impediment to people buying or building a home and by significantly reducing these fees people will hopefully be able to return to a new house sooner and get their lives back on track with as little angst as is possible.
“When you have to pick up and start again the prospect can be made even more daunting by the costs and taxes you don’t think about.
“HIA connected with Bushfire Recovery Victoria last week and we look forward to working closely with the Government over the coming weeks and months to ensure a smooth transition can be made by the hundreds of affected families.
“At this time of great hardship for those affected it’s the small things that alleviate financial suffering that count the most. This move will go some ways to alleviating some unnecessary worries,” concluded Ms Nield.