Foreign investors who purchase and leave properties unoccupied in Australian cities face a ‘ghost tax’ as part of measures to address housing affordability, media reports suggest.

Unveiling the 2017 Federal Budget on May 9th, Federal Treasurer Scott Morrison said the government would levy an annual charge of at least $5,000 on foreign owners of residential real estate whereby Australian properties are not either occupied or genuinely available on the rental market for at least six months…