Stamp Duty and Land Tax - Absentee and Foreign Owners
The last few years has seen the implementation of a range of new stamp duty and land tax changes largely focused on foreign investors and, more recently, "absentee" owners. In most situations, Australian citizens working overseas are not caught by the new provisions, although the land tax provisions would appear to extend the permanent residents in some situations.
You need to be aware of these changes because at least one State appears to have simply invoiced all property owners with an overseas contact address on the basis that they are subject to new land tax provisions - regardless of the owners being Australian citizens. The money involved can be significant, and you should seek professional advice confirming any exposure, prior to making any payments.
We have provided a summary below of how we believe the new stamp duty and land tax provisions apply in Victoria, New South Wales and Queensland below as at September, 2017- but the situation is complex and material is intended only as background and is not to be relied upon.
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