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Parliamentary Questions

Question Without Notice No. 1300 asked in the Legislative Council on 31 October 2019 by Hon Peter Collier

Parliament: 40 Session: 1

Answered on

FOREIGN BUYERS SURCHARGE –– REVENUE

1300. Hon PETER COLLIER to the minister representing the Treasurer:

I refer to comments made by the Treasurer in the Legislative Assembly on Tuesday, 29 October that the budget contains the figures and the fiscal impacts of policies announced by the government on the foreign buyers surcharge.

(1) Will the Treasurer provide the page number in either the 2019–20 budget or the 2018–19 Annual Report on State Finances that contains a line item relating to the revenue to be raised from the foreign buyers surcharge?

(2) If no to (1), will the Treasurer provide the expected revenue to be raised from the foreign buyers surcharge as at the 2019–20 budget for 2019–20, 2020–21, 2021–22 and 2022–23; and, if not, why not?

(3) What was the amount of revenue raised in the 2018–19 financial year from the foreign buyers surcharge?

(4) What was the forecast revenue to be raised from the foreign buyers surcharge for the 2018–19 financial year?

Hon STEPHEN DAWSON replied:

I thank the Leader of the Opposition for some notice of the question. The following answer has been provided by the Treasurer.

(1) The foreign buyer duty is a component of transfer duty, which is outlined on pages 72, 73 and 228 of the 2019–20 budget and on page 172 of the 2018–19 Annual Report on State Finances. The forecast foreign buyer duty was also outlined in Legislative Assembly Estimates Committee A on 22 May 2019. See page E239.

(2) Not applicable.

(3) That is reported in the Department of Finance's annual report.

(4) The 2018–19 midyear review forecast the 2018–19 revenue from foreign buyer duty to be $6 million.