[size=14.5920000076294px]Non-residents buying property will be slugged the equivalent of [size=14.5920000076294px]3 per[size=14.5920000076294px] cent of the purchase price. The surcharge will apply from July 1. Also, an absentee land tax of [size=14.5920000076294px]0.5 per cent[size=14.5920000076294px] will be applied from 2016 to foreigners who do not occupy the new or existing dwelling they have purchased, which Treasurer Tim Pallas said would deter so-called land banking.
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