‘Death Tax’: Inheritance Fees for Victorians Soar 650 Percent

Victorian Labor will slug families of deceased relatives with major fee hikes to process wills for estates worth more than $250,000. The new fees, listed by the Supreme Court of Victoria, are flagged to apply from Nov. 18, 2024, impacting families dealing with multi-million dollar estates. The fees are normally paid when the Probate Office must process a deceased individual’s will and estate, which can include property. Under the changes, the government will charge $514.40 (US$339) for estates of between $250,000 and $500,000, up 650 percent from the current fee (pdf) of $68.60. Meanwhile, costs on estates between $500,000 and $1 million will increase 180 percent from $367.40, to $1,028.80. The median dwelling value in Melbourne is $776,044, according to CoreLogic, but this is likely to rise in future....