Key changes

Key changes introduced by the Amendment Act include:

Extension and establishment of land tax concession schemes

• Section 9E of the Land Tax Management Act 1956 will remain in effect as a time‑limited build‑to‑rent concession scheme until 2040.
• A new section 9F establishes an ongoing, permanent land tax concession for eligible build‑to‑rent developments under the general scheme.

50% land value reduction for land tax assessments

Eligible build‑to‑rent properties under both the time‑limited (section 9E) and general (section 9F) schemes will benefit from a 50% reduction in the taxable value of land for land tax assessment purposes.

Surcharge purchaser duty and surcharge land tax

The amendments provide exemptions from, and refunds of, Surcharge purchaser duty and Surcharge land tax for land used for qualifying build‑to‑rent developments under both schemes.