Australia: Increased foreign property investor surcharges, land tax thresholds (New South Wales)
The government announced that it will be increasing the foreign purchaser duty surcharge and foreign owner land tax surcharge for 2025.
Increased foreign property investor surcharges and land tax thresholds
The New South Wales (NSW) government announced that it will be increasing the foreign purchaser duty surcharge and foreign owner land tax surcharge for 2025.
The increase will see the foreign purchaser duty surcharge rise from 8% to 9% from July 1, 2025, and the foreign owner land tax surcharge rise from 4% to 5% from the 2025 land tax year.
According to the NSW government, the increase is expected to encourage more properties to be made available to NSW residents and to provide that overseas investors buying homes in NSW are also contributing to the cost of building other homes and the necessary infrastructure.
The NSW government also announced that the land tax thresholds will be increased for the 2024 land tax year as planned, which applies to both the tax-free threshold and premium rate threshold.
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