Australia: Foreign buyers tax to have little impact, say analysts
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While some property developers have attacked moves to hit foreign buyers with higher stamp duty imposts and warned they could bring some projects to a halt, analysts have predicted the fallout may be more limited.
Offshore investors are to be hit with a doubling in taxes under a NSW government package announced last week, with the state’s foreign investor stamp duty surcharge set to jump to 8 per cent, effective from July 1.
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Source : Australia: Foreign buyers tax to have little impact, say analysts