The Tax Institute welcomes the opportunity to make a submission to the State Revenue Office of Victoria in relation to draft revenue ruling DA-064. Overall, we consider that a public ruling outlining the views of the Commissioner of State Revenue on the activities which would constitute land development for the purposes of the Duties Act 2000 is desirable. However, we are of the view that the current draft ruling goes beyond the words and intent of the legislation and should be amended before it is finalised.
The Tax Institute
Commissioner of State Revenue
State Revenue Office
Chair of The Tax Institute's Victorian State Taxes Committee
03 9225 7416