The Victorian Government has announced that they will introduce a series of tax concessions aimed at easing the burdens of those affected by the recent bushfires.
According to the government, individuals who lost homes or vehicles in the fires will be exempt from paying both stamp and land taxes on replacements purchased this year.
The move was announced by Treasurer John Landers, who explained that land tax duties will be waived completely for those rebuilding homes in the area. Those opting for a move away from the area will be given an AUD21,970 tax exemption on the purchase of their new property.
For replacement vehicles, the government will waive the first AUD1,050 worth of stamp duty.
However, the government has pointed out that the tax waivers will not apply to an individual's investment or holiday property, or commercial vehicles.
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