The Queensland government has announced plans to increase the Duty for foreign property investors from 3 to 7% from 1 July 2018.
The current duty payable in the other major cities/states are:
Sydney, NSW: 8%
Melbourne, VIC: 7%
Adelaide, SA: 7%.
Perth, WA: 4% after 1 January 2019
Brisb.,Gold Coast, QLD: 3% (7% after 1 July 2018)
NEW FIRB (Foreign Investor Review Board) REGULATIONS 9 MAY 2017
These new regulations (Australia Wide) will have far reaching implications for ALL investors, NOT just Foreigners.
Go here to hear the news and HOW it may affect you and the market