The REIV strives to work with government collaboratively, to ensure that informed regulatory policy is developed that delivers certainty and fairness to all sector participants. With certainty and fairness, buyers and sellers, renters, and rental providers, selling agents, property managers and valuers, and marketing and media, have a level playing field to perform well.
Effective tax reform headlines the measures, identified in the Real Estate Institute of Victoria’s (REIV) submission to the 2025-26 Victorian State Budget, to address the state’s housing supply issues. Reflecting important feedback from REIV members, the submission makes five specific tax and regulatory policy recommendations designed to attract and retain property sector investment, ensure a more sustainable rental market and uplift professional standards within the sector’s workforce. In reiterating long-held advocacy positions, the REIV highlights easing stamp duty and land tax obligations on rental providers as a top priority.
On the eve of the 2024-25 Victorian State Budget, now is the perfect opportunity for the Allan Labor Government to align its housing objectives with its taxation policies. Genuine policies designed to retain and grow investment in our state’s property sector will be critical to help ensure the state reaches its ambitious housing target. The Real Estate Institute of Victoria’s (REIV) 2024-25 Victorian State Budget submission outlines three key recommendations for making this happen.
The Parliamentary Inquiry into Land Transfer Duty Fees seeks to investigate issues around land transfer duties including potential transitioning to alternative taxation forms. This submission utilises extant research and draws upon the experience and expertise of industry members.
Whilst the REIV is supportive of measures to transition away from stamp duty on commercial and industrial property transactions as a step towards the abolishment of all land transfer duties, the government’s proposed bill is overly complex in its implementation design and it essentially replaces stamp duty with another annual property tax which may be more expensive for some owners in the long term The REIV anticipates acute uncertainty in the market if the bill is legislated in its current form.
Given the extensive transitional period for the taxation settings to take place, it is challenging to gauge what the market response will be once it takes effect from the 1st of July 2024. This unpredictability could extend the transition to the proposed tax indefinitely. Moreover, an inherent risk is that the replacement of the upfront stamp duty tax with an ongoing commercial and industrial property tax could prospectively increase the overall tax burden on business owners.
Statement by the Reserve Bank Board: Monetary Policy Decision
Read moreThe REIV has submitted its recommendations to the Parliament of Victoria’s inquiry into housing supply in regional Victoria, highlighting the urgent need for property tax reform to address ongoing supply challenges.
Read morePaul Tzamalis, two-time REIV Auctioneer of the Year, is set to take the stage again for the Good Friday Appeal Charity auction.
Read moreGet insights from the sold-out Property Management Conference at Sofitel Melbourne, featuring expert talks on regulatory changes, tenant affordability challenges, and strategies for success.
Read moreThe REIV has submitted its recommendations to the Parliament of Victoria’s inquiry into housing supply in regional Victoria, highlighting the urgent need for property tax reform to address ongoing supply challenges.
Read morePaul Tzamalis, two-time REIV Auctioneer of the Year, is set to take the stage again for the Good Friday Appeal Charity auction.
Read moreGet insights from the sold-out Property Management Conference at Sofitel Melbourne, featuring expert talks on regulatory changes, tenant affordability challenges, and strategies for success.
Read moreEffective tax reform headlines the measures, identified in the Real Estate Institute of Victoria’s (REIV) submission to the 2025-26 Victorian State Budget, to address the state’s housing supply issues.
Read moreREIV’s latest vacancy rate report for February 2025 shows that median weekly rents for units in the metropolitan region have matched their house counterparts for the first time.
Read moreThe REIV urges the Victorian Government to provide more support to rental providers
Read moreInfrastructure Victoria’s latest report highlights the need for stamp duty reform, a move strongly supported by the REIV. CEO Kelly Ryan emphasises that stamp duty restricts investment and mobility, calling for a broad-based property tax and a full review of Victoria’s property taxation system.
Read moreThe Victorian Government has announced significant changes to its housing targets and activity centres ahead of the forthcoming release of its ‘Plan for Victoria’ document. These planning initiatives form part of the Housing Statement. The REIV provided a formal submission to the government on the ‘Plan for Victoria’ in 2024.
Read moreA fake rental scam has resurfaced as prospective renters are targeted with fraudulently modified rental listings on social networking sites.
Read moreStatement by the Reserve Bank Board: Monetary Policy Decision
Read moreMember feedback on the Victorian Government’s Regulatory Impact Statement (RIS) on Building Electrification.
Read moreGiven the real estate industry’s size and importance to so many Australians – particularly amid the current housing supply and cost-of-living challenges – the need to support and maintain the professional standards of industry practitioners has never been greater.
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