rental

Vacant property fee

Foreign property owners slapped with fee for vacant property Australia has followed the international trend of penalising foreign owners of Australian residential property who keep their property vacant for extended periods of time. Last¬†November Parliament approved legislation that imposes an annual vacancy fee on foreign owners of residential real estate if the property is not…

house home

Further restrictions on foreign property investors

We have seen a number of measures over the years restricting access to tax concessions for foreign investors, particularly for residential property investments. The recent Federal Budget goes one step further, restricting access to tax concessions, increasing taxes, and penalising investors who leave property vacant. Measures include: Charge for leaving properties vacant Foreign owners of…