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Foreign Buyers Tax hitting Perth projects

The State Government’s introduction of a foreign buyers tax appears to have delayed at least one major project, with developer Far East Consortium postponing construction of Perth Hub.

The decision to hold-off on construction means 600 workers who were set to move from The Towers at Elizabeth Quay, will now be out of jobs in June.

Property Council executive director Sandra Brewer told Mornings with Gareth Parker the foreign buyer surcharge of 7 percent is costing West Australians jobs.

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