STATE TAXATION ACTS AMENDMENT ACT 2015 (NO. 26 OF 2015) - SECT 20 New section 28A inserted

STATE TAXATION ACTS AMENDMENT ACT 2015 (NO. 26 OF 2015) - SECT 20

After section 28 of the Duties Act 2000 insert —

        " 28A     Rate for additional duty chargeable for foreign purchasers—residential property

    (1)     This section applies to a dutiable transaction under which a land-related interest in residential property is transferred to a foreign purchaser.

    (2)     In addition to the duty chargeable under section 28, duty is also chargeable at a rate of 3% of the dutiable value of the land-related interest in residential property.".