In Victoria, what is the current additional stamp duty rate applied to foreign purchasers of residential property?
Correct Answer
B) 8%
Victoria imposes an 8% additional duty on foreign purchasers of residential property, which is applied on top of the standard stamp duty rates. This surcharge is designed to cool foreign investment in the residential property market.
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In Victoria, what is the approximate stamp duty payable on a $800,000 residential property purchase?
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