World Class Conveyancing News

Stamp duty surcharge for residential property

Posted on 15 September 2016

The NSW Budget introduced a 4 per cent surcharge duty on the purchase of residential real estate by foreign persons, commencing on 21 June 2016. The surcharge is in addition to the duty payable on the purchase of residential property. What is a foreign person? The Office of State Revenue has a defined list of what a foreign person means, including (but not limited to): an individual not ordinarily resident in Australia; or a corporation in which an individual not ordi...

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