In a bold move that has sent a few shockwaves through the real estate industry, the Victorian government has announced the implementation of a new land tax levy. The levy — a part of the COVID debt levy included in this year’s budget — aims to raise $4.7 billion by reducing the tax-free threshold for general land tax rates on properties that are not considered principal places of residence. (The details are here .) While the measure is intended to ease the burden on the state