Surcharge purchaser duty
It was previously identified that citizens of New Zealand, Finland, Germany, India, Japan, Norway, South Africa and Switzerland were not subject to surcharge purchaser duty due to international tax treaties.
Changes to federal law means that these citizens may now need to pay surcharge purchaser duty if they enter into an agreement to purchase residential property in NSW on or after 8 April 2024.
We will be providing further information relating to the new legislation as it becomes available and encourage you to monitor the international tax treaties page for updates.
If you are considered a foreign person and acquire residential-related property in NSW, you must pay surcharge purchaser duty.
Surcharge purchaser duty is currently calculated at 8% of the dutiable value (the greater of the purchase price or value of the property) and is paid in addition to transfer duty.
Foreign persons
Individuals, corporations and trustees of a trust can be considered foreign persons for the purposes of surcharge purchaser duty.
Generally, you are not a foreign person if you are a:
The following pages will help you determine your foreign status and if you must pay surcharge purchaser duty.
Transactions that attract surcharge purchaser duty
If you are considered a foreign person, you may have to pay surcharge purchaser duty on a variety of property transactions involving residential-related property. These include but are not limited to:
- agreements for sale of land
- property transfers
- declarations of trust.
Surcharge purchaser duty calculator
You can find out how much transfer duty and surcharge purchaser duty you must pay using our online calculator.
Surcharge duty calculator
Payment due date
Surcharge purchaser duty must be paid on the earlier of:
- 3 months from the date of the contract or agreement to acquire the residential-related property in NSW or
- on or before settlement
Payment of surcharge purchaser duty later than 3 months after the contract date will result in interest and penalties being charged.
Declaring your foreign status
When you acquire residential-related property in NSW, you must complete a purchaser/transferee declaration form and provide supporting documents so we can determine if you must pay surcharge purchaser duty.
If there are multiple purchasers/transferees, each one must complete a declaration.
Other supporting documents outlined in the purchaser/transferee declaration - explanatory notes must be provided upon request.
Contact us
Contact us for more information about your foreign buyer status or your liability to pay surcharge purchaser duty.