Categories for Foreign Investment

Bunbury leads regional growth in March 2024 quarter

23/5/2024
Written by

21 May 2024 New Bunbury was the top performing regional centre for the March 2024 quarter, according to the latest data from REIWA. Its median house price rose 5.9 per cent to $487,000, up from $460,000 in the December quarter. REIWA President Joe White said there was strong activity across all price points in the Bunbury regional centre, but the market was particularly competitive for houses priced around $600,000. “Bunbury is attracting interest from a wide range of buyers including...

Foreign Buyer Duty navigation.

24/1/2019
Written by

Foreign Buyer DutyNavigating the expectations of buyers in understanding their requirement to remit foreign buyer duty is inevitable. The declaration must be made by the buyer and it is strongly advised that you do not assist buyers in making any determination on their behalf where there is any doubt.  Foreign individuals are classified as an individual who is not an Australian citizen, or does not hold a permanent or special category visa. In other words, if you are either (i) Australian citizen;...

More Paper Forms for Buyers to complete post 1/1/19

19/12/2018
Written by

Foreign Buyers DutyFor transactions executed on or after 1 January 2019, an additional 7% duty will be chargeable on the dutiable value of certain acquisitions of residential property by foreign buyers.Each person acquiring land in Western Australia must complete a foreign buyers declaration form HERE declaring whether they are a foreign person.The Online Duties system will be modified to allow self-assessment of most dutiable transactions that are chargeable with foreign buyers duty.Residential property For the purposes of the foreign buyers duty, residential property...

Foreign Buyers Duty Surcharge

10/10/2018
Written by

CIRCULAR 17 DUTIES ACT 2008 Foreign Buyers Duty The Duties Amendment (Additional Duty for Foreign Persons) Bill 2018 (‘the Bill’) was second read into Parliament on 13 June 2018. The Bill operates to amend the Duties Act 2008 (‘Duties Act’) to impose additional duty on certain transactions involving foreign persons or entities acquiring residential property in Western Australia.These amendments are subject to the passing of the Bill by Parliament and the granting of Royal Assent. The changes are proposed to come into effect on 1 January...

WA 18-19 budget impact on property market.

11/5/2018
Written by

Thanks to the R.E.I.W.A. in depth analysis… ‘Business as usual’ budget fails to reinvigorate property market. REIWA welcomes the WA Government’s decision not to increase property taxes, but is disappointed in the distinct lack of leadership on display in the 2018-19 State Budget, with no new initiatives included to address housing affordability or reinvigorate the property sector.  REIWA President Hayden Groves said while it was pleasing there were no increases to property taxes, this year’s budget was a mundane budget...