Purchase Checklist

Purchase Checklist V2

Client Details

You must select 'Yes' to either Are one or more Purchaser(s) a Natural Person? or Are one or more Purchaser(s) an Organisation?

Individual(s)

Foreign Purchaser Additional Duty

If you are a foreign purchaser and you acquire residential property, as well as land transfer duty, you may have to pay foreign purchaser additional duty on the share of the property you acquired. Foreign purchaser additional duty applies to the following transactions:

  • Buying a residential property
  • Buying a non-residential propety with the intention of converting it to residential land
  • Being given a residential property as a gift
  • Certain leasing arrangement in respect of residential property

What is a Foreign Natural Person or Foreign Entity?

You are a foreign purchaser if you are a foreign natural person, a foreign corporation or a trustee of a foreign trust.

  • Foreign natural persons – you are a foreign purchaser if you are not;
    • A citizen or permanent resident of Australia,
    • A New Zealand citizen with a Special Category Visa (Subclass 444)
  • Foreign corporations – a foreign corporation includes;
    • Corporations incorporated outside Australia
    • Corporations incorporated in Australia if a foreign natural person, another foreign corporation, or a trustee of a foreign trust has a controlling interest in those corporations.
  • Foreign trusts – a foreign trust is a trust where a foreign natural person, foreign corporation or trustee of another foreign trust, has a substantial interest in the trust estate of that trust. A substantial interest is defined as more than 50% of the capital estate of the foreign trust and/or has the capacity to determine or influence the outcome of the decisions about the administration and conduct of the trust.
(if applicable)

Organisation Details

Foreign Purchaser Additional Duty

If you are a foreign purchaser and you acquire residential property, as well as land transfer duty, you may have to pay foreign purchaser additional duty on the share of the property you acquired. Foreign purchaser additional duty applies to the following transactions:

  • Buying a residential property
  • Buying a non-residential propety with the intention of converting it to residential land
  • Being given a residential property as a gift
  • Certain leasing arrangement in respect of residential property

What is a Foreign Natural Person or Foreign Entity?

You are a foreign purchaser if you are a foreign natural person, a foreign corporation or a trustee of a foreign trust.

  • Foreign natural persons – you are a foreign purchaser if you are not;
    • A citizen or permanent resident of Australia,
    • A New Zealand citizen with a Special Category Visa (Subclass 444)
  • Foreign corporations – a foreign corporation includes;
    • Corporations incorporated outside Australia
    • Corporations incorporated in Australia if a foreign natural person, another foreign corporation, or a trustee of a foreign trust has a controlling interest in those corporations.
  • Foreign trusts – a foreign trust is a trust where a foreign natural person, foreign corporation or trustee of another foreign trust, has a substantial interest in the trust estate of that trust. A substantial interest is defined as more than 50% of the capital estate of the foreign trust and/or has the capacity to determine or influence the outcome of the decisions about the administration and conduct of the trust.
(if applicable)

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