Foreign Ownership Surcharge - Tuckfield Conveyancing

Foreign Ownership Surcharge for residential land

From 1 January 2018 foreign purchasers of residential land are required to pay a 7% surcharge in addition to stamp duty being paid at settlement. Who is classed as a foreign purchaser? A foreign person is someone who is NOT an Australian citizen or a holder of a permanent visa. New Zealand citizens who do NOT hold a special category visa are also deemed a foreign