Re: How can I avoid paying the foreigner stamp duty surcharge?
Posted: Tue Jan 22, 2019 12:54 pm
Hello Mason. Welcome to the forums.
The good news is New Zealand citizens arriving in Australia are automatically granted a visa known as a Special Category Visa (Subclass 444).
This visa exempts its holders from having to pay the stamp duty surcharge which applies in NSW, VIC, QLD, and WA but be careful.
For instance, in New South Wales you need to be in the country for at least 200 days to be eligible for exemption from paying stamp duty surcharge.
You can calculate how much surcharge you will be saving via our stamp duty calculator here.
For example, for a $700,000 property in NSW, a foreigner can expect to pay around $82,990 in stamp duty.
For an Australian citizen or a permanent resident, the stamp duty will be around $10,490.
Another added benefit is that New Zealand citizens living in Australia can buy any type of real estate that they desire.
It doesn’t necessarily have to be a residential property, it could also be an investment property.
Please call us on 1300 889 743 (+61 2 9194 1700 if overseas) or complete our free assessment form to discover if you qualify for a New Zealand citizen home loan.
The good news is New Zealand citizens arriving in Australia are automatically granted a visa known as a Special Category Visa (Subclass 444).
This visa exempts its holders from having to pay the stamp duty surcharge which applies in NSW, VIC, QLD, and WA but be careful.
For instance, in New South Wales you need to be in the country for at least 200 days to be eligible for exemption from paying stamp duty surcharge.
You can calculate how much surcharge you will be saving via our stamp duty calculator here.
For example, for a $700,000 property in NSW, a foreigner can expect to pay around $82,990 in stamp duty.
For an Australian citizen or a permanent resident, the stamp duty will be around $10,490.
Another added benefit is that New Zealand citizens living in Australia can buy any type of real estate that they desire.
It doesn’t necessarily have to be a residential property, it could also be an investment property.
Please call us on 1300 889 743 (+61 2 9194 1700 if overseas) or complete our free assessment form to discover if you qualify for a New Zealand citizen home loan.