• 31 DEC

    Foreign buyers NSW land tax surcharge

    The 0.75% surcharge land tax for foreign buyers kicks in from 31 Dec 2016.  This tax is applied on the taxable value of residential land owned by a foreign person at midnight on 31 December in any year commencing with 2016.
    The tax is separately assessed in relation to each parcel of land and is payable in addition to any land tax otherwise payable by a foreign person. There is no tax threshold to exempt land below the specified value nor any exemption for land occupied by a foreign person as a principal place of residence.
    For more details refer NSW Office of State Revenue website.