Crucial information you need to know before buying property in Australia
19 July, 2022
Like most Australian Expats in Singapore I am a very property minded investor, I have always related Australian Property to financial security and it is because of these emotional reasons that it has been extremely hard for myself and thousands of other Australian Expatriates to accept that investing in Australian property whilst living abroad may no longer be a logical investment.
What Mortgage Brokers and Real-estate Agents wont tell you
The Australian Government has made it perfectly clear that they do not want Foreign Investors / Australian Expats buying property in Australia and have introduced unattractive tax legislation to prove it:
- The removal of the CGT 50% discount for non-residents which has forced Aus-Expats to pay twice as much Tax on their profits.
- The ending of the 6 year CGT Main Residence Exemption for non-residents
- The applied withholding taxes on property sales for non-residents
- The increase in State Land Taxes for non-residents
- The general reluctance by Australian banks to lend to non-residents
These harsh taxes have now forced 1,000s of Australian expats around the world to ask one simple question….. is it worth it?
Book a complimentary no obligation meeting with a qualified Australian Financial Planning Specialist before buying property in Australia.