Will be interesting to see who is the first “third party” caught under the new rules that apply from today for foreigners buying existing property in Australia.
eg $225k fine for any real estate agent, property manager, solicitor etc who help a foreign national buy existing property in Australia…..could be a bit of a money spinner for 2015/16 budget :)
That’s some real money for a fine!
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
Not to mention $135k fine to developers who market apartments exclusively overseas. Ouch!
https://www.propertyinvesting.com/a-little-less-love-for-foreign-investors/
Oh, and maybe even three years in prison!
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This reply was modified 8 years, 11 months ago by
Jason Staggers.
Jason Staggers | JasonStaggers.com
http://jasonstaggers.com
Email MeWe are still getting a number of BA enquiries from overseas and first thing we do is ask for a copy of their Residency Certificate.
Certainly can be an expensive oversight if you are not diligent.
Cheers
Yours in Finance
0-40 properties in a decade. Ask me how.Richard Taylor | Australia's leading private lender
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This reply was modified 8 years, 11 months ago by
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