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JetBlast

Foreign Investment Stamp Duty

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Hello,

I am currently in SA on a 489 visa. I will be stung on the stamp duty if I purchase a property. 
 

I am wondering if I took out a joint mortgage with an Aussie citizen if the tax on “foreign investors” will be reduced please?


I did a bit of Googling without much luck! 
 

Cheers

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As far as I can see you are considered a temp resident for FIRB approval so that would indicate you will pay the stamp duty surcharge and be ineligible for any first home owner grant. 
If you purchase with a PR or Citizen then you are still required to pay surcharge on your part of the purchase. So if owned 50/50 then half the purchase price will be deemed to be foreign ownership and subject to FIRB and stamp duty excess. 
 

It may well be better to wait until you are PR. 

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

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