NSW Land Tax and Foreign residents

Currently, Australian permanent residents are subject to the surcharge and land tax duty unless they have been in Australia for 200 continuous days in the previous 12 months from the relevant taxing date (i.e. date of dutiable transaction for duty and 31 December for land tax).

The Act makes changes to the surcharge provisions by providing that from 1 July 2017 permanent residents (including NZ citizens with a special class of visa) will be
exempt from surcharge duty if they

• declare that they will use and occupy the premises as his or her principal place of residence for a continuous period of 200 days within the first 12 months after purchase, and

• the Chief Commissioner is satisfied that the person intends to so use and occupy the premises.

From the 2018 tax year, permanent residents will similarly be exempt from land tax if they:

• lodge a declaration with a land tax return for the relevant tax year indicating that the person intends to occupy the affected premises as a principal place of residence for a continuous period of 200 days during the relevant tax year, and

• the Chief Commissioner is satisfied that the person intends to so use and occupy the premises.

If the person does not use and occupy the premises as required, any surcharge purchaser duty and surcharge land tax is to be reassessed as if the exemption was never granted.

 

The above is for NSW ?

That NZ issue is becoming a problem. There are loads of NZers here who dont have a visa. Its actually not easy to get once you are here I believe. One person I work with is considering citizenship after being here a LONG time without any formal residency as despite the inability to pronounce the word fish correctly its fairly straight fwd to get dual citizenship.

 

@Paul@PFI

yes for NSW.

State Revenue and Other Legislation Amendment (Budget Measures) Bill 2017