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Foreign Buyers Deterred by Doubling of MIT Withholding Tax to 15%

by Danielle Seagrave, Wednesday, 16th May 2012

The Government’s proposed doubling Ugg Boots UK of withholding tax charged to 15% on income earned by international commercial property investors and MIT’s has already caused concerns for the Australian property industry.

Singapore’s Mapletree Logistics Cheap Ugg Boots is reconsidering its position in regards to negotiations with Stockland over their $822 million industrial portfolio. Analysts Cheap Uggs fear this is just the start of the fall-out in foreign investors.

Last year over 37% of commercial property sales in Michael Kors Outlet Australia were undertaken by international investors but the proposed changes to the withholding tax is expected to discourage foreign buyers.

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