Over 2021, Revenue New South Wales has increased its enforcement of the 8 per cent surcharge and 2 per cent annual land tax duties on foreign owners of residential property in the state. The number of surcharges, fines and penalties now being imposed suggests that many stamping agents, conveyancers and solicitors have not been correctly identifying the liabilities for these charges, says law firm Bartier Perry. Surcharge purchaser duty alone often ranges between AUD30,000 to over AUD100,000, plus foreign surcharge land tax applying annually.
News Source：【 Bartier Perry 2021/07/28 】