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Revision as of 02:28, 6 June 2012

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A progressive property tax regime for residential properties was launched in Price range 2010 and enhanced in Price range 2013. Prior to that, property tax was levied at a flat fee for all residential properties. A more progressive tax regime on property wealth is socially equitable since taxpayers with extra priceless properties pay higher property tax. Such a tax construction won't hurt the competitiveness of our overall tax regime or cut back the incentives for enterprise. Property Tax on Non-residential Properties

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Mainland Chinese language have been the top foreign buyers in Australian real property final year, according to Australia's Foreign Funding Evaluate Board. They bought $5.9 billion value of property, accounting for 11.4 p.c of total overseas investment in actual estate, FIRB mentioned. Monika Tu, a dealer at high-end actual estate agency Black Diamondz Property Concierge in Sydney, says that over the previous 12 months mainland Chinese language have become 80 p.c of her company's business. info on properties to be put within the REIT (specifically whether you might be conversant in the geographical and sector exposures of the REITs you propose to spend money on); Australian Authorities stamp responsibility & registration fees (fees fluctuate relying on location of property). Other requirements Widespread Condominiums

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