Notice requirements and fines for foreign dutiable transactions
Finance Legislation Amendment (Housing Affordability) Bill 2026
1st House
2nd House
Law
Links to official parliament websites
Effects of this bill
If this bill passes, it means that:
People claiming exemptions on foreign dutiable transactions must lodge a notice if they fail to meet exemption requirements within the required period.
This notice must be lodged within 2 months of the end of the required period.
Failure to lodge this notice carries a $20,000 fine.
Foreign transfer duty is not charged on land parcels if specific requirements are met within 2 or 5 years of the transaction.
First home owners pay no duty on properties without a home valued up to $450,000; they pay $20.14 per $100 for values between $450,001 and $550,000.
The law creates a new category for concessional pre-construction agreements for lots in land schemes where a new dwelling will be built.