RDC fights potential new tax on foreign investment

The RDC has provided a supplementary submission to the Federal Inquiry into foreign investment in residential real estate urging the Committee to exercise caution with new taxes.

The RDC does not support the imposition of new taxes on property, especially inefficient transaction-based taxes such as stamp-duty.

The imposition of extra fees and taxes on foreign buyers, would significantly dampen residential dwelling approvals and starts from its present high levels, impacting heavily on domestic buyers.

The RDC acknowledges the work of the Committee to date and has welcomed the opportunity to discuss potential recommendations about taxes with members of the Committee at their convenience.