FOREIGN INVESTORS IN SYDNEY PAYING ALMOST FOUR TIMES AS MUCH STAMP DUTY AS LOCALS (FED)

3rd August 2017

“Recent changes to stamp duty in NSW mean that foreign investors now pay almost $100,000 in transaction taxes to acquire a standard apartment in Sydney – almost four times as much as local buyers,” commented HIA Senior Economist, Shane Garrett. This remarkable finding is contained in the latest Stamp Duty Watch report which has just been released by the Housing Industry Association. “The average stamp duty bill in Australia paid by resident owner occupiers is also up by 16.4 per over the year to $20,725, even though dwelling prices increased by just 10.5 per cent,” added Mr Garrett.

Foreign Investors in Sydney paying almost four times as much stamp duty as locals (FED)