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ARTICLE · 16 OCTOBER 2017

New stamp duty relief available to foreign developers in Queensland

ClarkeKann Lawyers
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The Office of State Revenue (Queensland) has updated conditions under which ex gratia relief from AFAD can be sought.

AustraliaGovernment, Public Sector
Paul O'Dea
Paul O'Dea
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Since October 2016, all foreign buyers and developers are subject to a 3% stamp duty surcharge on the acquisition of residential property in Queensland known as Additional Foreign Acquirer Duty (AFAD). The Commissioner has now updated conditions under which ex gratia relief from AFAD can be sought.

This relief is available to foreign persons, as defined in the Duties Act 2001, carrying out 'significant' residential development. Relief from AFAD may be granted by the Commissioner on a case-by-case basis. Foreign Persons must also meet regulatory requirements such as complying with the Corporations Act 2001 and complying with Queensland taxation laws.

AFAD will only apply to the acquisition of residential land in Queensland by those who are either:

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