NSW surcharge stamp duty and land tax found to be inconsistent with certain international tax treaties
Revenue NSW has determined that the New South Wales surcharge stamp duty and land tax provisions are inconsistent with Australia's international tax treaties with New Zealand, Finland, Germany and South Africa. Effective immediately, individuals that are citizens of those countries are no longer required to pay surcharge purchaser duty and surcharge land tax in respect of residential-related property in New South Wales. Companies, trusts and partnerships in which a citizen of one of those countries holds a substantial interest may also be exempt and should seek further legal advice. Refunds are available upon application with Revenue NSW for those affected who paid surcharge purchaser duty or surcharge land tax on or after 1 July 2021.
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Senior Associate • Sydney
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