Foreign owner surcharges and discretionary trusts

Foreign owner surcharges and discretionary trusts

A number of states have introduced foreign owner surcharges on duty and/or land tax for acquisitions and ownership of certain types of land by ‘foreign persons’. New South Wales and Victoria both have land tax surcharges, while Queensland, New South Wales and Victoria all charge a surcharge on duty. Foreign owner surcharges can mean additional duty of up to 8% of the purchase price (on top of the usual duty rates) and additional land tax of up to 2%.

A number of states have introduced foreign owner surcharges on duty and/or land tax for acquisitions and ownership of certain types of land by ‘foreign persons’.  New South Wales and Victoria both have land tax surcharges, while Queensland, New South Wales and Victoria all charge a surcharge on duty.

Foreign owner surcharges can mean additional duty of up to 8% of the purchase price (on top of the usual duty rates) and additional land tax of up to 2%.

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