Foreign investors to be slugged with huge fee, penalty increases
Foreign property investors will face large fee and penalty increases when they buy an existing home or leave properties unoccupied under Australian Federal Government measures intended to address the housing supply crisis and affordability issues.
Federal Government Treasurer Jim Chalmers hopes new foreign tax impositions will increase housing stock. (Image source: Labor Party website)
Foreign investors in Australian property are set to be slugged with huge fee and penalty increases when they buy a property or leave them vacant.
The Federal Government on Sunday (10 December) announced new rules tripling fees for foreigners who buy established houses in Australia and a doubling in penalties for those who leave dwellings vacant.
A joint media release issued by Julie Collins, Minister for Housing and for Homelessness, and the Tr…
