NSW Surcharge Purchaser Duty: Exemptions For Foreign Buyers From Selected Nations
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Changes in federal law mean that the citizens of New Zealand, Finland, Germany, India, Japan, Norway, South Africa and Switzerland will have to pay surcharge purchaser duty if they purchase NSW property on or after 8 April 2024.
Foreign buyers who purchase residential-related property in NSW are subject to a surcharge purchaser duty of 8% in addition to any transfer duty; however, this policy no longer applies to foreign individuals from New Zealand, Finland, Germany, South Africa, Norway, Switzerland, Japan and India. This change is effective immediately, due to international tax agreements entered into by the Federal Government.
Surcharge Purchaser Duty Refunds
If you are a citizen of New Zealand, Finland, Germany, South Africa, Norway, Switzerland, Japan and India, you may be eligible for a refund of any surcharge purchaser duty you paid on or after 1 July 2021. Revenue NSW will be actively identifying eligible customers and will personally contact you to arrange the refund payment. For more detailed information, please visit the official NSW Government website.Who Is Exempt From Paying Surcharge Purchaser Duty?
Surcharge purchaser duty is not applicable if you fall into any of the following categories:- Citizens of Australia, New Zealand, Finland, Germany, South Africa, Norway, Switzerland, Japan and India
- Non-individual entities such as corporations, trusts and partnerships from Australia, New Zealand, Finland, Germany or South Africa
- People who are ordinarily residents of Australia
- Exempt permanent residents
- Holders of Partner (provisional) visas (subclass 309 or 820) who meet the residence requirements*
- Holders of a Retirement visa (subclass 405 or 410) who meet the residence requirements*
