Important Reminder

Overseas Owner Be Aware: New SRO Requirement!

12-Jan-2019

Important Reminder: Vacant & Absentee Notifications Due 1 February 2019

 

Are you aware? Please speak to your accountant or finance adviser before the due date.

If you own a property that was unoccupied for more than six months within a calendar year, you are required to notify State Revenue Office Victoria by 15 January 2019 using the online portal at https://www.e-business.sro.vic.gov.au/vacantlandtax/identity.

If you are not an Australian citizen or permanent resident, do not reside in Australia, was absent from Australia on 31 December of the year prior to the tax year, or for more than six months in total in the calendar year prior to the tax year, you are classified as an Absentee Owner. An Absentee Owner surcharge of 1.5% applies to all of the absentee owner who owns a property in Victoria. To complete this notification, please access the online portal at https://www.e-business.sro.vic.gov.au/aos/faces/public/login.xhtml.

Penalty applies if you fail to notify SRO regarding the vacant properties or being an absentee owner who owns a property in Victoria by 15 January 2019. If you have notified SRO last year, you are only required to make a new one if your circumstances have changed. You are not required to register the notification if you do not fall into one of the above.

1. Information required to complete the notification:

– Your SRO customer number

– Your assessment number which can be found on land tax assessment

2. What should I do if I’m not sure how to complete this?

– You may seek advise from your accountant or finance adviser for assistance

3. How can we help?

– If we are paying your land tax on your behalf, we are able to obtain your assessment number.  For more information, please refer to State Revenue Office at https://www.sro.vic.gov.au/land-tax/making-vacant-residential-land-tax-notification or https://www.sro.vic.gov.au/land-tax/notify-us-your-absentee-owner-status.

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