Foreign property investors rush to beat fee slug

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More than 100 offshore investors in property and other assets rushed to file their foreign investment applications with the federal government in the final 24 hours before a doubling of fees to up to $1 million.

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will pay $26,400 in FIRB application fees, and the foreign purchaser of a $5 million residential home will pay $105,600.There are different charges for agricultural and commercial assets.

“The feedback we’re getting from clients is certainly negative – investors are asking how truly welcoming of foreign investment Australia is, and questioning whether a $1 million fee will bring a $1 million service – even though we know it’s a tax.Advertisement “If the investment is in housing to supply the National Disability Insurance Scheme, or renewable energy projects that can help the government achieve other important policy objectives, will there be sensible accommodation on FIRB fees?”vowed during the election campaign to raise billions of dollars from a tax avoidance crackdown, business fines and higher fees on foreign investorsImposing the fee increase last week, Dr Chalmers insisted that foreign investors were still welcome and that the...

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Love it. Nearly 30 years of LNP shite and protection of cheats will come out.

Sky high real estate price = sky high rental = high inflation= low fertility rate

how much property do foreign investors own in Ausstralia?

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