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NSW Government to impose increased stamp duty and land tax surcharges on foreign persons (including foreign owned developers) DevelopmentProperty
21 June, 2017

NSW Government to impose increased stamp duty and land tax surcharges on foreign persons (including foreign owned developers)

The NSW Budget Statement (released on 20 June 2017) has provided further details on how the increased stamp duty and land tax surcharges will affect foreign owned developers. To recap, on 1 June 2017, the NSW Government announced its intention to increase the surcharges as such: Summary Foreign owned purchasers…
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Developers to be allowed to resell off-the-plan dwellings after failed sales DevelopmentProperty
21 December, 2016

Developers to be allowed to resell off-the-plan dwellings after failed sales

The Federal Government has announced its intention to pass legislation under the foreign investment framework to allow foreign buyers to purchase an off-the-plan dwelling when another foreign buyer has failed to reach settlement and the contract has been rescinded or terminated.The main legislative issue for developers is what currently constitutes…
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