Foreign buyers walking away from Australian property

https://www.facebook.com/propertyobserver/?hc_ref=ARQ_CpWoY8o56D9pJwI3_IcSpHYyX6y8Hqbq9lnZJA90ahHlwcjUkd1FAJlfkJ1tmXQ&fref=nf

The stamp duty isnt the issue, its the capital gains tax discount being removed that now puts Australia on the shit list for expats/foreigners.

If the long term capital gains of Australian property is 8% and the long term capital gains of USA equities is 8% it doesnt take a rocket scientist to understand that with the 50% capital gains discount being removed means that expats and foreigners are now paying $41,000 per $100,000 in capital gains taxes instead of $20,000 as they would in the past.....

Uhm pass, will happy direct funds to USA equities instead of Australian property until the Australian govt comes to its senses.