Feb 05 2018

Crackdown On Foreign Investors

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The ACT Government is targeting foreign investors, in favour of rebalancing the housing market in favour of locals.From July one, foreign investors will pay an additional annual land tax surcharge of 0.75% on the average unimproved value of their resdential property. 

The surcharge is expected to raise around four million dollars over the next two years.

The Canberra Liberals have slammed the move, saying the hike will strangle the property and drive up rental prices. 

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