Important Update: Residential Property and Exemption Certificate Application Fees 

(1 July 2023 - 30 June 2024)

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At HTW Legal, we strive to keep our clients informed about the latest developments in the legal landscape. Today, we bring to your attention the revised residential property and exemption certificate application fees for acquisitions in residential land from 1 July 2023 to 30 June 2024. Please take note of the following fee structure:

AmountFee per Action
Less than $75,000$4,200
$1 million or less$14,100
$2 million or less$28,200
$3 million or less$56,400
$4 million or less$84,600
$5 million or less$112,800
More than $5 millionRefer to the Foreign Investment website

Please ensure that you are aware of the applicable fee based on the acquisition amount of residential property.

Additionally, if you need to apply for a variation to an existing foreign investment approval (no-objection notice or exemption certificate), please take note of the variation application fees for the same period:

Variation TypeFee (1 July 2023 – 30 June 2024)
Simple Variation (considered immaterial or minor)$4,200
Complex Variation (not of an immaterial or minor nature)$28,200

Please note that if you originally paid a lower fee for an application notice and are now seeking a variation, your fee will be capped at the original payment amount.

For property developers applying for a new or near-new dwelling exemption certificate, an initial application fee is required. Please refer to the fee structure for the relevant period:

PeriodInitial Application Fee
1 July 2022 – 28 July 2022$28,300
29 July 2022 – 30 June 2023$56,600
1 July 2023 – 30 June 2024$60,600

Furthermore, property developers must report the sales of new or near-new dwellings every 6 months. A separate fee per sale will be applicable for each dwelling sold to a foreign person under the certificate.

We recommend consulting with our legal experts to ensure compliance with the updated fee structure and to address any specific questions or concerns you may have regarding residential property acquisitions, exemption certificates, or variations.

At HTW Legal, we are dedicated to providing comprehensive legal guidance tailored to your needs. Don’t hesitate to reach out to us for assistance or further information.

Disclaimer

The posts in this blog are published as general information only. They are not intended to nor do they constitute legal advice. HTW Legal Group strives at all times to provide users with accurate information but we do not guarantee that the information contained in this blog reflects accurately current law or procedure.

You should not act or refrain from acting in any matter based upon the information contained in this blog without first seeking the advice of a lawyer who practices in the area of law related to your matter. Do not hesitate to contact HTW Legal Group to make an appointment with one of our team of experienced lawyers to obtain advice tailored to your personal situation.