Foreign purchasers will be pay a 7 percent surcharge when buying an Australian House. (Photo: Shutterstock)
Oz Kiwi opinion
New Zealanders are not considered a foreign purchaser if they are residing in Australia.
However, if their partner is not an Australian citizen, Permanent Resident or Special Category Visa-holder they may be liable for 50 percent of the surcharge fee.
The Western Australia surcharge applies from 1 January 2019. It will be applied on top of standard stamp duty payments.
WA hits foreigners with 7% buyer charge
16 November 2018
Pedro Gonçalves – International Investment
Foreign buyers of Western Australia residential property will pay a 7% surcharge from 1 January 2019. It will be applied on top of standard stamp duty payments.
“West Australians with foreign spouses who purchase a home together would also be affected by this surcharge, with 50% of the value of the property eligible for the seven per cent tax under the government’s proposed legislation,” president Hayden Groves said.
[Read the Investment article].