ANNOUNCEMENT 10 Jun 2016In June 2016, the government of Australia announced altered domestic business conditions for foreign investors.
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Queensland government announcement
On 10 June 2016, the Queensland Treasurer announced the state would introduce a new 3% tax surcharge on foreign buyers of residential properties.
The tax is set to come into force starting 1 July 2016.
The move follows other states and the federal government which have introduced or raised foreign property taxes in recent months (cf. Related Measures).