Victorian Current Acts

WINDFALL GAINS TAX ACT 2021 - SECT 8

The owner of the land when the WGT event occurs is liable to pay windfall gains tax on the land.

Note to s. 8 inserted by No. 38/2023 s. 20.

Note

The owner of land must not purport to require the purchaser under an option to purchase the land or a contract of sale of the land to pay an amount for or towards an assessed windfall gains tax liability. See section 10H of the Sale of Land Act 1962 .

Part 3—Assessment of windfall gains tax

Division 1—Rate of windfall gains tax