Shifting the needle on the housing crisis: will Chalmers’ plan to slug foreign home buyers be enough?

Treasurer has announced plans to triple fees foreigners pay when buying established homes and to double penalties for leaving a property vacant

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Treasurer Jim Chalmers says he hopes to move the housing market “needle” by slapping more fees on foreigners buying homes.

On Sunday, Chalmers announced plans to triple fees foreigners pay whenbuying established homes. Penalties for leaving a property vacant will also double, and the Australian Tax Office will be given more compliance powers and resources.

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