In Queensland, foreign persons buying certain residential properties are subject to Additional Foreign Acquirer Duty (AFAD). The government introduced this payment to ensure foreign acquirers of residential property who benefit from government services and infrastructure also contribute to their delivery, the same as local buyers.

*Note: for some New Zealand citizens, there are certain exemptions from paying AFAD.

You are a foreign person for additional foreign acquirer duty (AFAD) if you are a:

  • foreign individual
  • foreign corporation
  • trustee of a foreign trust.

AFAD residential land is land in Queensland that is or will be used solely or primarily for residential purposes, where particular conditions are met. AFAD residential land includes:

  • homes and apartments (including chattels)
  • vacant land on which a home or apartment will be built
  • land for residential development, such as
  • smaller unit blocks
  • housing subdivisions
  • major developments with a residential component
  • buildings refurbished, renovated or extended for residential use.

Sempre Vero Lawyers is highly experienced with supporting foreign persons in buying property in Queensland. Contact us today to discuss your situation.

More information: https://www.business.qld.gov.au/industries/service-industries-professionals/professional-financial-services/transfer-duty/investors/afad 

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