Can a 482 (Skills in Demand) visa holder buy property in Australia?

How the 482 fits the rules

The Skills in Demand visa is tied to an employer: Home Affairs says an employer can sponsor a suitably skilled worker to fill a position it cannot fill with a suitably skilled Australian. The length of stay depends on the stream and is set out on the Home Affairs page, including for family members on subsequent entrant visas.

Under section 4 of the Foreign Acquisitions and Takeovers Act 1975 and Treasury's key concepts note, a temporary resident holds a temporary visa that allows a continuous stay of more than 12 months, whatever time remains on it. A 482 holder whose visa allows such a stay meets that definition. A holder with a shorter visa is a foreign non-resident. Both are foreign persons and need approval. The same generally applies to a partner or child on a subsequent entrant visa.

What a 482 holder can buy

The buying rules are the same for every foreign person. A 482 holder can apply to buy a new dwelling, including off the plan, or vacant land to build on. The ATO says temporary residents can no longer apply to buy an established dwelling as their principal place of residence. See the established home ban guide and the temporary residents page.

For a worker whose stay depends on a sponsor, two practical features of new-dwelling approvals stand out:

• Approval for a new dwelling is not usually subject to conditions about use, so the owner can live in it or rent it out. Treasury's guidance says this directly.
• Vacant land is different. Approval is generally conditional on completing construction within four years and not selling before then, whatever happens to the visa in the meantime.

When the 482 leads to a permanent visa

Home Affairs describes the Employer Nomination Scheme visa, subclass 186, as a permanent visa for skilled workers nominated by an employer, and it has a Temporary Residence Transition stream for some temporary visa holders. Its page sets out who is eligible and what work history is needed.

Under the Regulation, a person who holds a permanent visa at the time of acquisition does not need approval to buy residential land. Until that visa is granted, the 482 holder remains a foreign person. A bridging visa held while a permanent visa application is decided also counts: Treasury treats that person as a temporary resident. See buying on a bridging visa.

If the job or the visa ends

Ownership continues after a visa ends or the worker leaves Australia. What changes is how state land tax and the vacancy fee treat the owner.

• Vacancy fee. The ATO says foreign owners lodge a vacancy fee return for each vacancy year. The fee applies if the dwelling is vacant for 183 days or more in a vacancy year. See the vacancy fee guide.
• Victoria. The State Revenue Office applies an absentee owner surcharge to some owners who live overseas, with its own definitions and notification rules, which are on its pages.
• Queensland. The Queensland Revenue Office says a foreign individual with no permanent visa is an absentee if they do not usually live in Australia, and an absentee surcharge of 3% applies above $350,000 of taxable value. A person whose taxable land value is over $350,000 must notify the office within one month of moving overseas.
• New South Wales. Revenue NSW applies surcharge land tax at 5% of land value to foreign owners. It generally treats anyone as foreign unless they are a citizen, or a permanent resident who spends enough days in Australia, so a 482 holder living in Australia is also caught.

Using the Queensland formula, land with a taxable value of $800,000 attracts a surcharge of $13,500 (($800,000 minus $350,000) × 3%). That is in addition to ordinary land tax at the absentee rates.

Frequently asked questions

firbapproval.com.au is an independent guide. It is not affiliated with, endorsed by or connected to the Foreign Investment Review Board, the Australian Treasury or the Australian Taxation Office. We do not lodge or process applications. Applications are made to the ATO. General information only, not legal, tax, migration or financial advice.