Australia to Hike Application Fees and Penalties for Foreign Investors

Australia to Hike Application Fees and Penalties for Foreign Investors
Australian Treasurer Jim Chalmers speaks during a press conference in Brisbane, Australia, on July 22, 2022. Dan Peled/Getty Images
Alfred Bui
Updated:

The Australian government has announced that it will double application fees for foreign investors in an effort to improve the federal budget by $455 million (US$315 million) in the next four years.

Starting from July 29, foreigners who invest less than $75,000 will have to pay $4,000 in application fees. And those investing less than a million in residential properties and $50 million in commercial ones need to pay over $13,200.
Alfred Bui
Alfred Bui
Author
Alfred Bui is an Australian reporter based in Melbourne and focuses on local and business news. He is a former small business owner and has two master’s degrees in business and business law. Contact him at [email protected].
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