An assessment of the Foreign Investor Land Tax Surcharge (FILTS) is based on the nationality of the owner(s) as at 1 July of each financial year.
 

What to do if the foreign status changes

1. Where a nationality changes part way through a financial year, a reassessment or pro-rata refund of land tax and FILTS is not available. The change will come into effect from 1 July of the next financial year.
   
2. If your foreign status does change, you are required to notify us within 30 days using the Nationality and Land Use for Foreign Investor Surcharges online form including evidence of the change. 

There is an exception for discretionary foreign trusts that meet certain eligibility criteria below.​

Discretionary foreign trusts

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 in writing to the Commissioner for a reassessment and refund of the FILTS paid. The application must include a dated copy of the amended Trust Deed.