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lisawhite123

Buying property on a 489 visa

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Hi all,

Just wondering if anyone had any experience or knows as the internet can throw up a whole host of answers!

We have been in Queensland for 6 months and are thinking about buying a house to live in before we get PR. I’m aware we would have to apply to the FIRB for approval which carries a fee but I’ve been reading about foreign investor stamp duty tax and wonder if it would apply to us? Or is that for foreign investors that don’t have any visa’s?

Any help appreciated. Thanks

 

 

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If Queensland has foreign investor stamp duty (not all states do), then  yes you will have to pay it


Scot by birth, emigrated 1985 | Aussie husband applied UK spouse visa Jan 2015, granted March 2015, moved to UK May 2015 | Returned to Oz June 2016

"The stranger who comes home does not make himself at home but makes home itself strange." -- Rainer Maria Rilke

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Yes it does have foreign investor stamp duty But I was wondering if it was just relevant to investors buying to let or did it include properties we bought to live in...

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No not just investment properties. It is a substantial amount so might be worth waiting for PR.  Check the official Queensland government websites for clarity. 


So many wineries ......so little time :yes:

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1 hour ago, lisawhite123 said:

Yes it does have foreign investor stamp duty But I was wondering if it was just relevant to investors buying to let or did it include properties we bought to live in...

It applies to all foreign buyers 


Scot by birth, emigrated 1985 | Aussie husband applied UK spouse visa Jan 2015, granted March 2015, moved to UK May 2015 | Returned to Oz June 2016

"The stranger who comes home does not make himself at home but makes home itself strange." -- Rainer Maria Rilke

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Just to add, my wife and I are moving to Oz on temporary parent visas and have just bought a house in NSW.  Just for us to live in and not even an investment.

We've just been done for an extra $45,600 (approx £25,000) for what they call "surcharge duty"🙄😭 We're paying it as we didn't want to lose our house. I tried to discuss it with the FIRB and their tax people, but they won't budge about it and is a blanket tax that covers everyone whatever their circumstances. It was originally brought in as the Chinese kept buying up property as investments.

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12 hours ago, freedy50 said:

Just to add, my wife and I are moving to Oz on temporary parent visas and have just bought a house in NSW.  Just for us to live in and not even an investment.

We've just been done for an extra $45,600 (approx £25,000) for what they call "surcharge duty"🙄😭 We're paying it as we didn't want to lose our house. I tried to discuss it with the FIRB and their tax people, but they won't budge about it and is a blanket tax that covers everyone whatever their circumstances. It was originally brought in as the Chinese kept buying up property as investments.

No, of course they won't budge on it, it's the law.  It's one of the many downsides of temporary visas and bridging visas, unfortunately.  It should really be explained more clearly to people before they make the decision.


Scot by birth, emigrated 1985 | Aussie husband applied UK spouse visa Jan 2015, granted March 2015, moved to UK May 2015 | Returned to Oz June 2016

"The stranger who comes home does not make himself at home but makes home itself strange." -- Rainer Maria Rilke

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On 16/03/2019 at 19:16, lisawhite123 said:

Hi all,

Just wondering if anyone had any experience or knows as the internet can throw up a whole host of answers!

We have been in Queensland for 6 months and are thinking about buying a house to live in before we get PR. I’m aware we would have to apply to the FIRB for approval which carries a fee but I’ve been reading about foreign investor stamp duty tax and wonder if it would apply to us? Or is that for foreign investors that don’t have any visa’s?

Any help appreciated. Thanks

 

 

Hi, yes, we purchased our home while on a temporary visa. The first house we applied too fell through (our end) so we had to pay 2 applications to FIRB at 5K each. 

 

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