State Government increase probate fees on cup eve
By Aaron Cordy
THEY say the only two certainties in life are death and taxes. In Victoria, you can be certain that even in death your estate will be taxed.
In what has been labelled ‘death tax by stealth,’ the State Government announced on the eve of the Melbourne Cup that it will push ahead with an increase in probate fees as of Monday, November 18, 2024. This latest price hike means bereaved Victorians will now pay up to 645 per cent more to have their loved one’s estates settled.
There is a reprieve for estates under $250,000 with fees waived by the Government. For Estate over $250,000, a tiered system of fees begins at $514.40 and trends upwards to over $16,000 for estates of $7,000,000 and above.
In June this year, Premier Jacinta Allan tried to calm down speculation from the opposition when she addressed reporters.
“There’s a bit of fearmongering and scaremongering and, frankly, just ridiculous commentary that’s coming from the Liberal opposition on this today,” said Ms Allan.
“We have the lowest fees of anywhere in the country.
“We’re looking at how we can continue to support people through this process.”
For the higher-end estates, this increase will mean some Victorians will pay more than double the maximum fee charged in NSW.
“The cost of living is going up under the Allan Labor Government, and now death taxes by stealth are making the cost of dying more expensive through massive fee increases,” said Liberal Member for Northern Victoria Wendy Lovell.
Ms Lovell also expressed her concerns for Greater Shepparton residents faced with burying a loved one, when on the same day Remembrance Parks Central Victoria, which manages cemeteries at Pine Lodge and Kialla West, announced a price review that proposes increases of hundreds of dollars to both the cost of a plot and the digging of a grave.
“There will be a double whammy on the cost of dying for residents of Greater Shepparton, as probate fees jump by up to 645 per cent, and the cost of a plot and burial is proposed to increase by hundreds of dollars,” said Ms Lovell.
The acting attorney general, Enver Erdogan defended the decision when he announced it on Monday, November 4.
“It’s why we’re making the system fairer by abolishing probate fees for small estates and keeping medium-sized estate fees cheaper than New South Wales and South Australia’s fees,” he said.
“For the very small percentage of Victorians dealing with multimillion-dollar estates, the fees will be lifted to cover the level of administration and dispute resolution these complex applications often require in court.”
Though there is never a good time to die, with the cost-of-living crisis continuing to cripple families, in Victoria it appears death is no longer an escape from filling government coffers.
