Surcharge purchaser duty and surcharge land tax – international tax treaties update.

This Tax Insight relates to the news alert issued by Revenue NSW on the 29th of May 2023.

Further to our tax Insight dated 1 March 2023 regarding the inconsistency of NSW foreign surcharge provisions with certain international tax treaties entered into by the Federal Government, Revenue NSW have issued a news release identifying a further four international tax treaties with which the NSW foreign surcharge provisions are inconsistent (India, Japan, Norway, and Switzerland), bringing the total number of international tax treaties identified as impacted to the following eight:

  • Finland;
  • Germany;
  • India;NSR foreign surcharge
  • Japan;
  • New Zealand;
  • Norway;
  • South Africa; and
  • Switzerland.

Revenue NSW has also confirmed in that news release that the refund period available for purchasers/transferees, and landowners, from the nations concerned who paid surcharge purchaser duty or surcharge land tax will be extended to payments made on or after 1 January 2021 (previously 1 July 2021).

For more information

For further information regarding the NSW foreign surcharge provisions, please contact Mira Brewster or Sam Mohammad.