What property taxes should expats buying in Australia expect to pay?

Stamp duty applies to anyone buying a property in Australia. Different states have different rules, but generally stamp duty is around 5%. Non-Australians are also expected to pay a stamp duty surcharge. The amount differs between states, but usually it is an additional 7-8% on top of stamp duty. Therefore, as an expat you will likely pay 13-14% total stamp duty when you buy an Australian property.

As a non-Australian, you will also need approval from the Foreign Investor Review Board (FIRB). This is an application to the government to look into your finances and personal details, rule out criminal activity such as money laundering and confirm that you are capable of buying a property in Australia. There is a fee associated with this application which is dependent on the value of property you're looking to buy.

Additional taxes to be aware of:

• If your property is valued at over certain amount, you may need to pay a land tax to the government
• You will need to pay income tax if you are buying an investment property and receiving rental income
• When you sell the property, you will need to pay capital gains tax if it is not your main residence