SusanSydney wroteI think you're right about the money laundering Davita.
I must say though that I would have thought Sydney is a lot safer and more welcoming to Chinese than Jakarta is?
I'd suggest that the source of dirty money would be more scrutenized in Australia than it would be here in Indonesia. The RI gov't is already drafting a bill to allow corruptors to return their money to Indonesia as part of an amnesty...:icon_rolleyes:
I would find the money in Singapore banks, confiscate it, then ask the 'owner' to prove it was originally legitimate...:icon_evil:
IMO...most of the Asian money that boosted your apartment price was probably legitimate, just like in Vancouver where I come from. It's just that Canada and Australia have been liberal in allowing these investments, but lots of Asians returned to Asia to work after getting Canadian citizenship, and left the apartments empty... and now that policy has come to bite local people in the arse.
The British Columbia government is now thinking of applying a non-resident property tax to stimulate selling....or residing and paying taxes like other residents.
