BUYING PROPERTY IN AUSTRALIA

[surfersj]

Do holders of the 143 CPV need to first get permission from the FIRB before they can purchase property in Australia, and is the answer the same regardless of buying a new build versus an older already owned property? 

[Andrew from Vista Financial]

Hi

I think that the 143 is a contributory temporary parent visa(?)

This being the case then the answer to your question is that FIRB is required regardless of it being a new or established property.

Also you may or may not be aware but there is a recently new stamp duty premium for temporary residents when purchasing as well (varies state to state).

Have a look here (I am told that these calculators are up to date but please do not reply solely on this calculator), if you opt for foreign purchaser when completing it (as that covers temporary residents): http://www.vista.financialknowledgecentre.com.au/kccalculators.php?id=19

If you do have children here given all of the additional costs involved in purchasing you may wish to explore having them purchase it in their name/s however you should of course seek professional advice in relation to this strategy in the first instance to ensure all implications/ramifications are covered.

Hope this helps.

Andy

 

[KBear]

No, sorry you are mistaken.  The 173 is the temporary contributory parent visa.  The 143 is a permanent visa.  You are free to purchase whatever property you like without restrictions.

[Andrew from Vista Financial]

Thanks, for that.