88DLand becomes residential land during year preceding tax year

88D Land becomes residential land during year preceding tax year (a) at the commencement of the year preceding the tax year the land was not residential land within the meaning of section 34B(1); and (b) during the year preceding the tax year the land becomes residential land within the meaning of that subsection. S. 88DA inserted by No. 48/2025 s. 35. 88DA Land becomes vacant residential land during year preceding tax year (a) at the commencement of the year preceding the tax year the land was residential land within the meaning of section 34B(1); and (b) for a period during the year preceding the tax year the land was not residential land within the meaning of section 34B(1); and (c) at the end of the year preceding the tax year the land was residential land within the meaning of section 34B(1). S. 88E (Heading) amended by No. 52/2021 s. 64(3). S. 88E inserted by No. 22/2021 s. 29. 88E Land becomes residential land during second year preceding tax year and has not been used or occupied or changed ownership (a) at the commencement of the second year preceding the tax year the land was not residential land within the meaning of section 34B(1); and (b) during the second year preceding the tax year the land becomes residential land within the meaning of section 34B(1); and (c) for the period from which the land becomes residential land within the meaning of section 34B(1) up to the tax year— (ii) the land has not changed in ownership. S. 88EA inserted by No. 38/2023 s. 28A (as amended by No. 50/2024 s. 49). 88EA Land becomes residential land during third year preceding tax year and has not been used or occupied or changed ownership (1) Land is exempt from vacant residential land tax for a tax year if— (a) at the commencement of the third year preceding the tax year the land was not residential land within the meaning of section 34B(1); and (b) during the third year preceding the tax year the land becomes residential land within the meaning of section 34B(1); and (c) during the second year preceding the tax year the land is exempt from vacant residential land tax under section 88D; and (d) during the year immediately preceding the tax year the land is exempt from vacant residential land tax under section 88E; and (e) for the period from which the land becomes residential land within the meaning of section 34B(1) up to the tax year— (ii) the land has not changed ownership; and (f) the Commissioner is satisfied that during the period referred to in paragraph (e) the owner of the land made genuine attempts to sell the land at or below the price that they expected to receive when construction commenced on the land. (2) To obtain an exemption from vacant residential land tax under this section, the owner of the land must— S. 88EA(2)(a) amended by No. 48/2025 s. 36. (a) apply to the Commissioner for the exemption on or before 15 February of the tax year; and (b) give the Commissioner any information the Commissioner requests for the purpose of enabling the Commissioner to determine whether the land is exempt from vacant residential land tax under this section. S. 88EB inserted by No. 38/2023 s. 28A (as amended by No. 50/2024 s. 49), amended by No. 24/2025 s. 18(1). 88EB Residential land that has not been used or occupied or changed ownership for more than 3 years Land is eligible for a concessional rate of vacant residential land tax of 1% for a tax year if— (a) in a preceding tax year, the land becomes residential land within the meaning of section 34B(1); and (b) in a tax year after the tax year referred to in paragraph (a) but preceding the tax year, the land is exempt from vacant residential land tax under section 88EA; and (c) for the period from which the land becomes residential land within the meaning of section 34B(1) up to the tax year— (ii) the land has not changed ownership. S. 88EC inserted by No. 38/2023 s. 28A (as amended by No. 50/2024 s. 49), amended by No. 24/2025 s. 18(2). 88EC Publication of report on exemptions and concession The Commissioner must publish on the Commissioner's website an annual report of the following information for the 12 month period to which the report relates— (a) for each postcode in Victoria, the number of— (i) exemptions granted under each of sections 88D, 88E and 88EA; and (ii) concessions granted under section 88EB; (b) the total amount of vacant residential land tax that was not payable because of the grant of the exemptions and the concessions referred to in paragraph (a). S. 88F inserted by No. 38/2023 s. 35 (as amended by Nos 22/2024 s. 22, 50/2024 s. 51).