Almost all Victorian development agreements could soon create a
stamp duty liability.
Any sharing of profit by a landowner with a property developer
who does not own the land in proportion to the profit entitlement
could be assessable to stamp duty.
In what may be described as a blind siding amendment to the
current stamp duty law applying to what are quite standard property
development agreements in Victoria, the Victorian Government has
introduced a major amendment to the Victorian Duties Act 2000 in
the State Taxation Amendment Bill 2019.
This amendment was not announced by the Treasurer nor
highlighted in the recent Victorian budget and yet it is arguably
the most significant amendment to the Duties Act.
