State legal battles may loom after NSW scraps foreign buyer taxes
Legal battles may be on the cards after New South Wales deemed its own taxes and surcharges on foreign property buyers were against international legal treaties to which Australia was a signatory along with eight other nations.
The illegality of New South Wales' foreign tax impositions throws into question the rights of the other states to impose these same surcharges. (Image source: Shutterstock.com)
Massive taxes imposed on foreign buyers at purchase and in annual land taxes have been scrapped by the New South Wales Government after it was determined they were in breach of international treaties.
For now the other states have refrained from following suit, raising the question of whether legal battles may be looming if the taxes are inconsistent with the international tax treaties to which Australia is a signatory.
The abolition of the for…
