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And good luck to them:
The Queensland government will set a three per cent transfer duty surcharge for foreign buyers of residential property in the state.
Treasurer Curtis Pitt says he expects the fee to raise $15 million in its first year and $25 million a year after that.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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