Fairfax: The Yellow Peril is upon us

513 posts in this topic

7 hours ago, Mr Medved said:

It's the third wave of colonisation in Australia (after British and American). Not sure people get that yet. It's more than just Chinese buying up Australian property.

Ak showed a graph yesterday (which I posted), showing that Oz property represents very good value & return for the chinese, compared to their local market. Together with the rich chinese wanting to park their hot money outside China and our governments' lack of serious restrictions, Australia is quickly becoming another province of the red dragon.

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The winners and losers of Budget 2017


...Foreign investors in Australian residential property are facing tougher rules, including the removal of the main residence capital gains tax exemption, tightened compliance and a cap 50 per cent sales to foreigners in new developments. There will also be a “ghost tax” of at least $5000 per year on all foreign investors who fail to either occupy or lease their property for at least six months of the year....


... Developers will also be prevented from selling more than 50% of new developments to overseas buyers. ..


Edited by cobran20

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