Registration and stamp duty to rise in Vic
The treasurer has announced some “revenue measures” ahead of the state budget on May 6, with a $25 rise in registration for light vehiclesIt will cost $25 extra to register your motorcycle in Victoria from July 1, 2014, the state treasurer Michael O’Brien has announced today.
The increase in registration, coupled with an increase in stamp duty on new and used vehicles, will “support a major boost to road and transport infrastructure across Victoria”.
The measures announced today will raise an additional $136.8 million in 2014-2015, with further details to be released in the budget.
With the $25 increase, light vehicle registration fees will rise to $270 from July 1, 2014. A light vehicle is a car, motorcycle, motor trike or a truck that weighs 4.5 tonnes gross vehicle mass (GVM) or less. Existing concessions will continue to apply. Existing concessions include a 50 per cent discount for pensioners, health care card holders, and primary production vehicles.
Meanwhile, stamp duty on the purchase of new or used motor vehicles will rise by $0.40 per $200 or part thereof, also commencing from July 1, 2014.
Legislative amendments to give effect to the above changes will be introduced into parliament on Budget day.
Tags
Please see our Editorial Guidelines & Code of Ethics (including for more information about sponsored content and paid events). The information published on this website is of a general nature only and doesn’t consider your particular circumstances or needs.
