Stamp Duty New South Wales: Now Highest Taxing State for Foreigners Buying Residential Property

02/06/2017 3:36 am

New South Wales, announced a series of measure aimed at improving housing affordability, is now the highest taxing state for foreign investors in residential property. The foreign investor stamp duty surcharge is doubling to 8% from 4%, with land tax increased to 2% from 0.75%.

 

According to Business Insider, in NSW the effective tax rate for foreign investors will now be 13.5% duty (5.5%, plus 8% surcharge) and a land tax surcharge of 2%.