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EulerLagrange.eth
@eulerlagrange.eth
American here. From what I understand there is a law in Australians that prohibits foreigners from buying homes. They have to build new ones instead. Correct me if I’m wrong. How do you guys feel about it? Genuinely curious, I don’t have a dog in the fight.
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kripcat.eth 🎩
@kripcat.eth
It’s pretty insignificant in the broader context of the housing crisis. House prices here are largely driven by domestic not foreign investment in property, incentivised by tax policy which favours housing as an asset class. (Exceptions and reductions to capital gains tax & negative gearing).
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shaman
@shaman
How do I become mod of Australian channel
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Harry Dell
@harrydelltaxlaw
Generally, goreigners can buy new homes only, or homes for them to live in whole they have a visa here (have to sell when they leave). In practice, local people buy on behalf of foreigners all the time. Lay people think it's a big problem, so politicians penalise foreigers with tax+restrictions to look good.
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Liam
@liamellul
I dont think that’s entirely true but there extra costs for foreigners and restrictions to either buy newly built or vacant residential (I could be wrong) Imo the system for residential ownership incentivises immigration (no cap gains tax on sale of primary residence) I think its a good system for citizens/ PRs
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nic 🧩😹
@mkn
lol funny seeing you here. Why the interest in Australia? (I’m from Sydney!)
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