We wish to advise that the reported 3% stamp duty surcharge on foreign purchasers has been increased as per recent updates by the State Revenue Office for the state of Victoria only.

Please refer to the following for additional duty rates:

• For contracts, transactions, agreements and arrangements entered into on or after 1 July 2015 but before 1 July 2016:

- the additional duty rate is 3% (even if the settlement date is on or after 1 July 2016).

• For contracts, transactions, agreements and arrangements entered into on or after 1 July 2016:

-  the additional duty rate is 7%

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