The SRO is an independent service agency that administers Victoria’s taxation legislation, and collects vital revenue which funds schools, hospitals, police, roads and other government services.
In addition, we administer the First Home Owner Grant (FHOG), the Back to Work Scheme, unclaimed money, concessions and benefits for eligible property buyers, and support the Water and Sewerage Rebate Scheme.
In 2016-17, we collected more than $17.2 billion in revenue generated from payroll tax, land tax, land transfer duty, the Foreign Purchaser Additional Duty, Absentee Owner Surcharge, and a range of other taxes and levies. Additionally, we also undertook significant preparations for the administration of the Vacant Residential Land Tax and the Commercial Passenger Vehicle Service Levy.
The SRO acts under a framework agreement between the Victorian Treasurer, the Secretary of the Department of Treasury and Finance (DTF), and the Commissioner of State Revenue. Full financial reports and other annual reporting requirements appear in DTF’s annual report. This document provides complementary information to that report.
How does $17.2 billion help Victoria?
