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Proposed Land Victoria fee regulations

The fees associated with the lodgement of property transactions and plans of subdivision and for searching the Titles Register have been reviewed and new fee levels are proposed to commence on 1 July 2016.

In many cases, renewing these regulations and setting fees to recover costs will result in lower fees, because the cost of many of those services has decreased due to Land Victoria’s process improvements.   

Highlights of the proposed regulations include:

• fees for approximately 75 per cent of transaction types will decrease;
• fees have been simplified by reducing the number of categories from 48 to 33;
• plan of subdivision fees will only include a flat fee for the plan and a fee for every parcel created in the plan;
• mortgage fees will continue to be aligned with NSW;
• the ad valorem component of the land transfer fee has been restructured by reducing the rate from $2.46 to $2.34 for every $1000 of the sale price and increasing the ceiling from $500,000 to $1,500,000; and
• ancillary fee items such as  ‘made available’ and ‘correspondence lodgment fees’ have been removed.

A Regulatory Impact Statement (RIS) which assesses the costs and benefits of the proposed regulations and possible alternative means of achieving the stated objectives has been prepared. 

Public comment on the RIS and proposed regulations is now invited.

A copy of the RIS document and details on how to provide comment can be found on the departmental website at www.delwp.vic.gov.au > Property and land titles > Property information >Publications.  The closing date for comments is 16 November 2015.