Foreign status changes
The Foreign Investor Land Tax Surcharge (FILTS) is assessed based on the nationality of the owner(s) as at 1 July of each financial year.
Where a nationality changes part way through a financial year, a reassessment or pro-rata of land tax and FILTS is not available. The change will come into effect from 1 July of the next financial year.
The only exception is for discretionary trusts which meet certain criteria (see Trusts below).
If your foreign status changes, you are required to notify us through the Nationality and Land Use for Foreign Investor Surcharges online form within 30 days and include evidence of your status change.
Where a discretionary foreign trust exists:
- as at 1 July; and
- the trustee has the discretion to the distribution of capital; and
- the trust deed is amended so the trust is no longer a foreign trust; and
- the trust deed amendment occurs within six (6) months from the date of issue of the first Notice of Assessment for Land Tax which includes a FILTS component,
the trustee may apply to the Commissioner in writing for a reassessment and refund of the FILTS paid. A dated copy of the amended Trust Deed must accompany the application.