The Victorian Government's initiative to tackle vacant properties in Melbourne is part of a broader effort to increase housing availability and ensure that residential properties are utilized effectively. By identifying and taxing properties that have been vacant for more than six months, the government aims to encourage property owners to either rent out their spaces or face financial penalties in the form of the vacant residential land tax (VRLT).

• Targeted Properties: Hundreds of properties in apartment towers have been found vacant for over six months.
• Tax Implications: These vacant properties are now subject to VRLT, which applies to properties unoccupied for extended periods.
• Investigation Results: In the initial investigation involving five apartment buildings, 177 properties were found liable for VRLT, resulting in 337 assessments for the tax years 2019 to 2024.
• Expansion: The investigation will now extend to 13 more apartment towers and additional houses in Melbourne's inner and middle suburbs.

This crackdown is intended to address housing shortages and encourage more effective use of existing residential properties by making it financially unappealing to leave them vacant.