IMPLEMENTATION LEVEL

Subnational

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 01 Jul 2015 | Removal date: 30 Jun 2016
Still in force

FDI: Treatment and operations, nes

 On 1 July 2015, the Australian state of Victoria introduced an additional stamp duty tax of 3% on foreign property owners. Starting 2016, foreign owners will also have to pay an additional land tax surcharge of 0.5%, if they do not occupy the purchased real estate.
Permanent Australian residents and New Zealand nationals will be exempt from the tax hikes.
Update
On 22 April 2016, the state further raised its duties on foreign property owners, which shall apply starting 1 July 2016 (cf. Related Measures). Hence, this measure is no longer classified as implemented.

AFFECTED COUNTRIES

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