The upcoming Victorian election comes at a time of great political unrest, both in Australia and abroad. People are losing their trust in institutions, and the two major parties are losing their base to a new political force in One Nation. Small businesses and people generally are feeling the pinch as we teeter on the edge of another interest rate rise. In this backdrop, we have a complicated political landscape: a Labor Government on the ropes asking for a fourth consecutive term, a Liberal Opposition pitching a fresh start and One Nation hoping to translate polls into seats.

So, what are the parties offering to convince you to vote for them, let’s look specifically at the announcements in the business and property space.

What are Labor and the Liberals promising on land tax and stamp duty in the 2026 Victorian election?

The Labor Government have previously implemented several reforms in the property sector, including banning rental bidding and underquoting, and reserve price laws. The latter of which took effect from 1 October 2026, so the impact of these reforms is yet to be seen. In terms of commitments, the new Premier Ben Carroll has announced gradually raising the land tax-free threshold from its current $50,000 back to $300,000 over a six-year implementation period by 2033. The Liberals have also matched this and said they will do it by 2031. Carroll has also announced removing some other taxes, such as the Absentee Owner Surcharge.

On the Liberal front there’s a bit more focus on driving demand, with an announcement to remove stamp duty for first-home buyers on properties up to $1 million. This was a cornerstone of governments in NSW and QLD, the Liberals hoping this will be seen as a welcome relief for those looking to enter the market for the first time. On housing, they are also looking to expand the Capital City Zone, releasing land in growth areas and setting a clear timeframe for approvals. Team blue has also committed to deliver payroll tax relief.

What are the Greens and One Nation offering on housing, stamp duty and business tax?

To add to the menu, the Greens have proposed a two-year rent freeze, abolishing stamp duty for owner-occupiers up to $1.1 million and an initial $4bn towards an additional 88,000 public homes.

Now, to the Orange team. One Nation have committed to a number of pro-business and pro-housing commitments including: winding back land tax, lifting the payroll tax threshold, abolishing stamp duty on insurance, review and cut fees, taxes and charges on new homes, release unused government land, putting a legal clock on planning and building approvals, removing stamp duty on establishment of a new business are just some of the policies.

What the result could mean for property and business

Polling suggests the Liberals are best placed to form government, potentially with One Nation support. With One Nation expected to win 6–8 seats in the Legislative Council, any incoming government will need to negotiate to pass legislation. Whatever the result, there is notable common ground between the parties on land tax, stamp duty and planning timeframes. That suggests the next term is likely to bring meaningful change for property owners, buyers and small businesses alike.

About Jerome Boutelet

Jerome Boutelet is Executive Head of Government Relations and Industry Affairs at InfoTrack, where he works at the intersection of government, regulation and digital transformation across the legal and technology sectors, championing closer collaboration between industry and government to shape practical, sustainable policy outcomes. Before joining InfoTrack, he spent more than a decade in senior advisory roles within the NSW Government, supporting Ministers and teams across policy development, public affairs and strategic engagement, experience that gave him a grounded understanding of how government decisions are made and why effective engagement matters.

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