Australia: NSW stamp duty refunds, real estate | KPMG Global
Share with your friends

Australia: NSW stamp duty refunds, “reputable developers” of real estate

Australia: NSW stamp duty refunds, real estate

The New South Wales (NSW) Chief Commissioner will release guidelines of the proposed developer rebate for NSW states taxes surcharges, apparently being expanded based on a bill introduced in NSW. The new bill would expand the scope of the New South Wales stamp duty refund and allows for an up-front exemption for “reputable developers” of real estate.


Related content

Foreign owned acquirers and owners of NSW land are charged significantly higher rates of stamp duty and land tax. Similar surcharges apply in most other states. Consistent with its policy of increasing the supply of new homes, the NSW government passed legislation providing for a refund of these surcharges for certain developers (although its provisions are not effective).

A new bill has been released that would expand the scope of the refund and even allow an up-front exemption for “reputable developers.”


Read an October 2017 report prepared by the KPMG member firm in Australia

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Request for proposal