What is Additional Foreign Acquirer Duty?
Additional Foreign Acquirer Duty (AFAD) is an additional amount of Transfer Duty that a Buyer of Residential Land is required to pay when they are not an Australian Citizen or Permanent Resident of Australia. AFAD applies regardless of whether the land is being purchased for investment or non-investment purposes. Residential Land is defined to include not only vacant land but also homes and units.
Essential Elements of a Contact of Sale
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