An important reminder that Family Trusts that own residential property in NSW will now be automatically subject to the Foreign Persons Surcharge on Stamp Duty and Land Tax, unless their Trust Deeds have been updated to explicitly exclude foreign beneficiaries.  Any Family Trust that owns or intends to own residential property in NSW, is strongly urged to update their Trust Deed in order to minimize the financial burdens of these changes. If you require your Trust Deed to be reviewed and/or updated, please contact us.

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