News
Australian tax changes boost investors
Thursday 15 May 2008
The Australian government has made changes to the taxation system which will benefit foreign property investors.
Prime minister Kevin Rudd has slashed taxes for foreign investors in his first budget.
It is great news for anyone considering buying an investment property in Australia and is likely to lead to a surge in foreigners buying in the country.
"These arrangements will make Australia's withholding tax rate one of the most competitive in the world," Australian treasurer Wayne Swann told Bloomberg.
"The arrangements will ensure Australian property trusts are well placed to attract foreign investment," he added.
Australia has long been a popular destination for Britons who want to make a foreign property investment.
Many people choose to buy investment properties in Australia as it is a hugely popular tourist destination.
The country is extremely popular among backpackers but also attracts other groups from all over the world.
Prime minister Kevin Rudd has slashed taxes for foreign investors in his first budget.
It is great news for anyone considering buying an investment property in Australia and is likely to lead to a surge in foreigners buying in the country.
"These arrangements will make Australia's withholding tax rate one of the most competitive in the world," Australian treasurer Wayne Swann told Bloomberg.
"The arrangements will ensure Australian property trusts are well placed to attract foreign investment," he added.
Australia has long been a popular destination for Britons who want to make a foreign property investment.
Many people choose to buy investment properties in Australia as it is a hugely popular tourist destination.
The country is extremely popular among backpackers but also attracts other groups from all over the world.
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