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Foreign Person Stamp Duty: Quick Read

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Foreign Person Stamp Duty: Quick Read

If you are looking to purchase a property in Australia, you would have heard of stamp duty, also known as transfer duty. Generally, the stamp duty for Australian Citizens is at the 4% mark of the purchase price. The surcharge for a “foreign person” is 8%, totalling stamp duty to 12%

The following are considered as “foreign persons” for stamp duty purposes:

  1. Other than an Australian Citizen, someone who is not an ordinary resident of Australia (i.e. has not reside in Australia for at least 200 days within the last 12 months);

  2. A foreign corporation or a foreign government;

  3. A corporation in which an individual, or two or more persons are not ordinary residents of Australia;

  4. A trustee of a trust in which an individual, or two or more persons are not ordinary residents of Australia;

  5. A foreign government;

  6. A foreign government investor; and

  7. General partners of limited partnerships.

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