17/06/2024
On 11 June 2024, the Queensland Government released its 2024-25 budget with plans to increase the additional foreign acquirer duty and foreign owner land tax surcharge. The Queensland Government will increase the rate of the additional foreign acquirer duty (AFAD) from 7% to 8% from 1 July 2024, AFAD is levied on foreign buyers of […]
13/06/2024
The foreign owner land tax surcharge increases the ongoing costs of owning property in Victoria, New South Wales and Queensland. The foreign owner duty surcharges are targeted at foreign purchasers and increase the transaction costs of purchasing property in all states except the Australian Capital Territory. However, in Victoria and Queensland there is an exemption […]
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