Australia Tax Agency Updates Guidance on Vacancy Fee for Foreign Residential Property Owners

The Australian Taxation Office June 29 updated guidance explaining that foreign owners of domestic residential property must pay a vacancy fee if the property isn’t occupied or rented for at least six months each year. Topics covered include: 1) exemptions; 2) procedures for filing a return within 30 days of the end of each vacancy year; 3) payment requirements; and 4) penalties for noncompliance. [Australia, Australian Taxation Office, 06/29/18]

Reference:
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