From Domain comes news that former Liberal Party leader, John Hewson, is attempting to sell his mansion in Exeter, New South Wales, to a Chinese buyer:
Former Liberal Party leader John Hewson has had no luck selling his Tudor-style home in Exeter, Invergowrie, at home, so he’s taking the sale direct to the Chinese market.
A Beijing-based source said buyers are being asked to pay $8 million-plus for the 1930s-era property through Monika Tu, of Black Diamondz.
Do I need to remind Mr Hewson that it is illegal for a non-resident to purchase an established Australian home?
Advertisement
Moreover, is Ms Monika Tu not aware that from 1 December 2015, third parties that knowingly assist in the illegal sale of Australian real estate to foreigners will be subject to extensive penalties?
This is definitely a transaction that the ATO should monitor very closely.
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
