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The building and construction sector is a big jobs creator and could be stalled if not managed properly.

Foreign investors hit too much, too late

Opinion: The WA government has got the timing and scale wrong with its move to introduce a 7 per cent surcharge on foreign property buyers.

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Foreign buyers are not queueing up to buy Perth without the increase right now. I cant see how the supposed $120m can be raised without willing buyers from overseas. It simply won't and will further derail an already suffering industry that is critical to supporting WA jobs and liveleyhoods. The stamp duty increases in Victoia are not really meaningful as people buying off plan (mainly foreign buyers) are only paying incremental stamp duty in any event so any increase is minimal. We should be decreasing the stamp duty to incentivise foreign and local buyers to purchase properties in Perth. When GST was introduced I distinctly remember being told that stamp duty would be abolished to offset the cost of GST . Yes, I agree, shocking timing.

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