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New tax targeted to windfall gains accrued to landholders

The new Windfall Gains Tax (‘WGT’), introduced by the Windfall Gains Tax and State Taxation and Other Acts Further Amendment Act 2021 commences on 1 July 2023. The WGT applies to land rezoned after 1 July 2023. The WGT applies when the taxable value uplift of all land owned by an owner or group that… Continue reading New tax targeted to windfall gains accrued to landholders