Foreign investors in NSW to lose out under stamp duty changes

Foreign investors in NSW to lose out under stamp duty changes
Foreign investors in NSW to lose out under stamp duty changes

Foreign investors will pay higher surcharges when buying residential real estate in New South Wales following new measures to combat housing affordability to be introduced by the State Government.

From July 1 2017 stamp duty surchage for new purchases by foreign investors will rise from four percent to eight percent.

The surcharge on land tax will rise from 0.75 percent to two percent and foreign developers will be exempt from the increased surcharges.

Investors of any kind will no longer be able to delay paying stamp duty on off-the-plan properties for 12 months.

Tags: 
Stamp Duty Foreign Investment

Community Discussion

Be the first one to comment on this article
What would you like to say about this project?