Help with stamp duty surcharge NSW refund please!!!

Discussion in 'Accounting & Tax' started by Na granger, 28th Sep, 2018.

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  1. Na granger

    Na granger New Member

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    27th Sep, 2018
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    Fairfield
    Hi everyone,
    I bought my house in NSW in 2017 and paid 2% for stamp duty surcharge at that time. Recently I just found out that I was considered as an ordinary person ( on Temporary Partner Visa 820 and living in Australia since 2013) and eligible for stamp duty surcharge exemption.
    I wonder if there is any way to request for stamp duty surcharge refund. I know it's been a while but It's a huge money so It's so great if I can get it back.
    I was so busy and totally trusted my lawyer at the time of purchasing that I didn't double-checked these information.
    Thanks
     
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Have your spoken to Revenue NSW?
     
  3. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

    Joined:
    18th Jun, 2015
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    Location:
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    May depend on a few additional things...Is property solely in your name ? You may need legal advice concerning the terms of the Foreign Acquisitions and Takeovers Act 1975 (Cth) (FATA), modified as follows:
    • an individual not ordinarily resident in Australia (except for Australian citizens or a New Zealand citizen holding a special category visa under section 32 of the Migration Act 1958); or
    • a corporation or trustee of a trust in which an individual not ordinarily resident in Australia, a foreign corporation or a foreign government holds a substantial interest (20%); or
    • a corporation or trustee of a trust in which two or more persons, each of whom is an individual not ordinarily resident in Australia, a foreign corporation or a foreign government, hold an aggregate substantial interest (40%); or
    • any other person, or any other person that meets the conditions, prescribed by the Foreign Acquisition and Takeovers Regulation (Regs). Specifically, clauses 18, 46 and 47 of the Reg
    as well as matters relating to the meeting of the "ordinarily resident" provisions at that time. A non-Australian citizen will be ‘ordinarily resident’ in Australia at a particular time where the individual has actually been in Australia during 200 or more days in the last 12 months and is not (or was not from most recent departure) subject to any legal limitation as to time for continued presence in Australia. A person who falls outside of the exclusion or is not 'ordinarily' in Australia will be regarded a 'foreign person'.

    Its not as simple as relying on a Visa for exemption

    If the premises were not new residential premises it could also impact FIRB rules either at acquisition or if you depart Australia at any time