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Melbourne: Vacancy Tax to Hit Foreign Property Buyers

Government measures for affordable housing at expense of foreign investors: (i) Vacant Residential Property Tax (VRPT) (ii) New residential developments restricted to only 50% foreign buyers   Last month we published an article announcing the latest raft of changes by the government to scrap off-the-plan stamp duty concessions in order to waive stamp duties for …

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Why Investors Must Buy Melbourne Property NOW Before 1 July 2017

From 1 July 2017, purchasers of off-the-plan (not yet built) commercial or residential investment properties will be liable to stamp duty on the purchase price or market value of the property (whichever greater) Investors will possibly pay approximately $15K – $20K* more than what they are currently paying Off-the-plan concession only for purchasers who make …

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