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International Monetary Fund. Asia and Pacific Dept

stamp duty surcharge of 7 percent on residential property purchases by foreign buyers and temporary residents. Based on press reports, the main reason appears to be concerns that more attractive property values in the state could start attracting investor interest this year, given high residential real estate valuations in the major east coast capitals. The pre-emptive imposition of CFMs would be inconsistent with the Fund’s Institutional View on capital flows. Another potential new CFM is the removal, as of July 1, 2017, of a stamp duty concession in South Australia