The REIQ is urging the Queensland Government to remove foreign investor surcharges to promote rental investment in the state – and we couldn’t agree more!
The REIQ have long been opposed to the 7% surcharge applied to stamp duty introduced in 2016 and the additional 2% surcharge applied to land tax on Queensland property held by foreign entities.
“I endorse REIQ CEO Antonia Mercorella’s stance that these taxes act as a deterrent for foreign investment in Queensland,” says Laura, “lowering barriers to all property investment is crucial for increasing the housing supply to meet our growing population demands.”
The REIQ proposes that the Queensland Revenue can offer ex-gratia relief to all foreign investors, not just foreign pension funds and developers.
Read the REIQ’s full media release here:
Time to wind back foreign investor surcharge, says REIQ
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