Victoria is building and approving more homes than any other state - but there's more to do.
That's why the Carroll Labor Government will cut the Absentee Owner Surcharge for developments post construction and those contributing to the Victorian economy.
It's a change that will help build even more homes.
Labor is updating guidelines so developers who build affordable housing can be recognised for their contribution to the Victorian economy.
It will exempt developers from AOS during construction if they meet the Development Facilitation Program's criteria.
Labor will also update the guidelines so residential developments can be exempt from AOS for up to two years after construction is complete.
It will give developers more time to sell and lease their stock - and support further development of homes.
Labor will also formalise a one-year exemption after construction for the sale of land, regardless of the type of land.
These sensible changes mean developers and foreign investors can have the certainty they need to invest in Victoria and build the homes and communities that working people rely on.
As stated by Treasurer Colin Brooks
"Victoria is building and approving homes that any other state but there's more to do."
"These changes are simple - build affordable homes and under Labor you pay less tax."
"This is about providing more certainty for builders so that the pipeline of housing continues to grow for first home buyers."
