Tasmanian-based foreign developers may apply for a reassessment and refund of FILTS under certain conditions.
A 'Tasmanian-based foreign developer' is a foreign person who operates a business:
- that acquires land in Tasmania with the aim of developing the land;
- with at least 80 per cent of the wages of management and administration staff of the business being taxable wages within the meaning of the Payroll Tax Act 2008 in that year; and
- that operates in Tasmania for the majority of its business hours in that year.
The developer or their business must have:
- been issued with occupancy permits for at least 50 dwellings in that financial year that meet the following criteria:
i. the dwelling is situated on land, within Tasmania, that was acquired by the foreign developer after 1 July 2022;
ii. laying of foundations (or building commencement in the absence of foundations) occurred on or after 1 July 2022; and
iii. the occupancy permit was issued within three (3) years of the developer acquiring the land;
- paid (or be liable for) FILTS in respect of the land on which one or more of the newly constructed dwellings are situated; and
- complied with all of the requirements of the Foreign Investment Review Board.
How to apply
To apply for a reassessment of the foreign investor land tax surcharge:
- email taxhelp; and
- attach copies of the Occupancy Permits.