Original article by Remy Varga
Herald Sun – Page: Online : 26-Mar-25

The budget papers show that the federal government will impose a two-year ban on foreigners buying established homes, with the policy slated to take effect from 1 April. The budget has allocated $5.7m for the Australian Taxation Office to enforce the ban, while the ATO will be given $8.9m to crack down on ‘land banking’ by foreign buyers. The government will also expand the Help to Buy shared equity scheme for home buyers, and provide eligible construction industry apprentices with grants of up to $10,000 as part of its strategy to address the skills shortage that is contributing to the housing crisis.

CORPORATES
AUSTRALIAN TAXATION OFFICE