📜 Land Tax Assessment Amendment (Build-to-Rent) Bill 2026

Legislative Council Third ReadLABill 5219 February 2026

This Bill amends the Land Tax Assessment Act 2002 to increase the land tax exemption for eligible build-to-rent (BTR) developments from 50% to 75%. This increased exemption applies to developments completed between 1 July 2025 and 30 June 2030, for the first 10 years, after which they revert to the general 50% exemption for another 10 years.

Impact

Property developers and owners of build-to-rent developments will benefit from reduced land tax liabilities, potentially encouraging more investment in rental housing. Tenants may indirectly benefit from an increased supply of rental properties. The state government will experience a reduction in land tax revenue from these specific developments.

Key Changes

["Introduces an 'increased exemption development' category for BTR projects completed between 1 July 2025 and 30 June 2030.", "Increases the land tax exemption for eligible BTR developments from 50% to 75% for the first 10 assessment years.", "After 10 years, developments receiving the increased 75% exemption will revert to the general 50% exemption for the subsequent 10 years.", "Amends the definition of 'exemption percentage' to differentiate between general and increased exemption developments.", "Provides for the Commissioner to treat land as exempt under the increased exemption even if requirements are temporarily not met."]