Australian-based developers

In 2017 amendments were made to provide for surcharge concessions to Australian-based developers who are foreign persons.

There are two forms of concession or exemption.

1. An exemption from the surcharge if it is satisfied that the land will be used for:
   1. construction and sale of new homes, or
   2. subdivision and sale for new home construction.
2. A refund from surcharge where the foreign person has not been granted an exemption from surcharge but the land has been used for the above purposes.

Guidance on the circumstances for granting or revoking an exemption are provided in the Revenue Ruling.

If an exemption is granted and the land tax and/or surcharge has already been paid you can apply for a refund.

An application for refund must be made:

• within 12 months of the home being sold or the issue date of the subdivision certificate and
• no later than 10 years after the acquisition of the land.

The 10 year period applies to land acquired after 21 June 2016. If the completion of the land occurred before 21 June 2016, then a five year period will apply.

How to apply

To apply for a refund, exemption or reassessment you must apply online:

• outlining the relevant grounds and
• providing documents supporting the submission if required.

If a refund is granted, payment will be made by electronic funds transfer (EFT). We will contact eligible applicants with further information on how to proceed once their matter has been reviewed.