Queensland and New South Wales are following Victoria’s lead by looking to introduce new stamp duty surcharges for foreign investors, when transactions involve residential real estate.

However, in Victoria the proposed foreign purchaser surcharge on “short term accommodation”, ie, hotels, motels and serviced apartments, may be ditched after all, following a recent proposal to reverse the amendments and expressly exclude “commercial residential premises” from being subject to the Victorian foreign investors stamp duty surcharge.

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