On Sunday 10 December 2023, the Treasurer announced changes to foreign investment fees, including:
- tripling foreign investment fees for the purchase of established homes;
- doubling vacancy fees for all foreign‑owned dwellings purchased since 9 May 2017 (which together mean a six‑fold increase in vacancy fees for future purchases of established dwellings);
- enhancing the ATO’s compliance regime to ensure foreign investors comply with the rules, including selling their residence when required; and
- applying the commercial fee schedule for foreign investment in eligible Build to Rent projects.
The full announcement can be found on the Treasurer's website.
Further details will be published on the Foreign Investment website shortly.