“The Victorian Government’s abolishment of stamp duty for commercial and industrial property sales is an encouraging sign for the sector, and Victorian businesses more broadly. We appreciate the Government for opening a door to important tax reform – it shows a listening ear to the sector’s call for change.

“The REIV will review the announcement fully, taking particular interest in any increase in ongoing property ownership costs and how they impact capital flows and the rental and sales markets in the commercial sector.

“Stamp duty is a significant barrier to property investment and for as long as it remains in the residential property sector, millions of aspiring homeowners and thousands of everyday mum and dad investors are impeded, which creates a significant negative ripple effect on the rest of the market.

“We look forward to continuing conversations with the Government, and other political representatives, as they engage the property sector on the creation of better policy for the sector.” said Kilian.