Foreign buyers hit by changes to NSW land tax rules
The removal of a land tax exemption for a string of nationalities could prove costly for international buyers and have unexpected consequences for Australian expatriates with foreign partners.
Changes to foreign land tax exemptions have added a layer of expense and complexity for many overseas and expat buyers of New South Wales property. (Image source: Shutterstock.com)
The New South Wales Government’s recent decision to remove exemptions for foreign buyers who were compelled elsewhere to pay hefty land tax and surcharges has potentially added ten of thousands of dollars to the cost of buying in that state.
Effective from 8 April, citizens of New Zealand, Finland, Germany, India, Japan, Norway, South Africa, and Switzerland became subject to surcharge purchaser duty and surcharge land tax due to changes in fede…
