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Parliamentary Questions


Question Without Notice No. 1076 asked in the Legislative Council on 27 October 2022 by Hon Dr Steve Thomas

Parliament: 41 Session: 1

FOREIGN BUYERS SURCHARGE — REVENUE

1076. Hon Dr STEVE THOMAS to the minister representing the Treasurer:

I refer to the McGowan government's foreign buyers surcharge, which was applied in the 2017 state budget as four per cent and increased to seven per cent in May 2018.

(1) What income has the foreign buyers surcharge raised for each of the financial years 2018–19 to 2021–22 inclusive?

(2) How many transfers of residential properties did the surcharge apply to in each financial year?

Hon STEPHEN DAWSON replied:

I thank the Leader of the Opposition for some notice of the question.

(1)–(2) Revenue from the foreign buyers surcharge and all other revenue items is published in the state budget, midyear review and Annual report on state finances each year, while the Department of Treasury publishes some historical data in its annual overview of state taxes and royalties. The revenue and number of residential property transactions for each year is provided in tabular format. I seek leave to have this information incorporated into Hansard.

[Leave granted for the following material to be incorporated.]

2018–19

2019–20

2020–21

2021–22

Revenue ($m)

5.5

19.0

17.3

21.7

Residential Property Transactions

208

570

550

597