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Australian state raises surcharge on foreign house buyers to 7 percent

By Patrick following x   2018 May 13, 3:49pm 244 views   3 comments   watch   sfw   quote     share    


http://www.xinhuanet.com/english/2018-05/10/c_137169244.htm

SYDNEY, May 10 (Xinhua) -- A surcharge on foreign purchases of homes in Western Australia will be raised from 4 to 7 percent, in line with the state's latest budget rollout, authorities said on Thursday.

The surcharge applies to "all purchases of residential property by foreign individuals and entities" from Jan 1, 2019, according to a government statement.

The move, estimated to raise 123 million Australian dollars in revenue over the period of 2018-19 to 2021-22 puts Western Australia "on par" with New South Wales, Victoria, South Australia and Queensland states "for all foreign ownership of residential property."

"Importantly, this decision increases a surcharge that will only apply to foreign investors. Western Australian households and businesses will not pay the surcharge," the state's Treasurer Ben Wyatt said.
1   TrumpingTits   ignore (0)   2018 May 13, 5:54pm   ↑ like (0)   ↓ dislike (0)   quote        

Interesting, the constitutional differences between Canada/Australia vs the US when it comes to which level of government can regulate international commerce and which can't.

Here, this wouldn't fly for 5 minutes in federal court unless Congress approved such a thing.
2   APOCALYPSEFUCKisShostikovitch   ignore (32)   2018 May 14, 1:16am   ↑ like (1)   ↓ dislike (0)   quote        

If a fugitive PRC Army officer is not FREE! to buy blocks worth of houses to launder stolen money, then FREE!dom has no meaning/
3   ForcedTQ   ignore (0)   2018 May 14, 8:20am   ↑ like (0)   ↓ dislike (0)   quote        

Too many un-educated people in this country don't understand the difference between Liberty and Freedom. We shouldn't be allowing anyone who isn't a citizen of this country to "own" real property.




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