Sydney slaps new stamp duty on foreign buyers
Sydney
FOREIGNERS buying homes in Sydney will face a new property tax from next week when New South Wales becomes the second state in Australia to impose such a duty as soaring demand from China helps drive record prices.
Australia's most populous state plans to introduce a 4 per cent stamp duty surcharge from June 21 and from next year a 0.75 per cent land tax surcharge on foreign purchasers, New South Wales Treasurer Gladys Berejiklian said in an e-mailed statement on Tuesday.
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