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Statement by Mr Brian Wilson, Chairman of the Foreign Investment Review Board
5 October 2016
To ensure there can be no question as to the integrity of Australia’s foreign investment review system I have decided to suspend the commencement of my proposed role with The Carlyle Group until April 2017, when my term as part-time non-executive chairman of the FIRB expires. On 5 September it was announced that I would […]
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Turnbull government orders further 16 forced sales of properties illegally held by foreign nationals
19 September 2016
The Treasurer, Scott Morrison, has distributed a media release regarding the Turnbull Government’s 16 forced sales of properties held as investments by foreign nationals in breach of the foreign investment framework.
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Report on Register of Foreign Ownership of Agricultural Land
7 September 2016
The Treasurer has released the first report on data collected through the Register of Foreign Ownership of Agricultural Land.
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Fees Indexation
27 June 2016
Fees for foreign investment applications and notices are indexed each financial year from the averages of the consumer price index (CPI). New fees apply from 1 July 2016 which have been calculated using the indexation factor of 1.015.
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Taxation conditions – clarifying requirements for foreign investment
3 May 2016
Tonight’s Federal Budget makes important protections to the integrity of Australia’s tax base, designed to ensure that all individuals and businesses pay the right amount of tax. The application of tax conditions to foreign investors, where it is decided that a particular foreign investment application presents a risk to Australia’s revenue, is an important part […]
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Foreign Investment in Australia remains strong
8 April 2016
The Foreign Investment Review Board 2014-15 Annual Report is now available. It shows that foreign investment continues to make an important contribution to the Australian economy. For the second year in a row there has been a significant increase in both the number and value of foreign investment proposals in Australia. Nearly 38,000 proposals received […]
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Critical asset sales now reviewed
4 April 2016
Following the Treasurer’s announcement, as of 31 March 2016 sales of critical state-owned infrastructure assets to private foreign investors are now formally reviewed by the Foreign Investment Review Board (FIRB). This required amending Section 31 of the Foreign Acquisitions and Takeovers Regulation 2015 removing the exemption for private foreign investors acquiring an interest in critical […]
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Foreign-owned agricultural land holdings to be registered by 29 February 2016
22 February 2016
The Treasurer, Scott Morrison, has released a joint media release with Deputy Prime Minister and Minister for Agriculture and Water Resources, Barnaby Joyce, reminding foreign owners of Australian agricultural land that they have until 29 February 2016 to register their holdings with the Australian Taxation Office’s Agricultural Land Register.
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Paying fees
19 February 2016
The correct Payment Reference Number must be used when paying your foreign investment application fee. Using an incorrect Payment Reference Number will lead to delays in your payment being processed. The statutory period for each application or notice doesn’t start until the fee has been paid or waived. The Payment Reference Number for each non-residential […]
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Treasury working paper: Foreign investment into Australia
18 February 2016
The Treasury has released a working paper on foreign investment into Australia. The paper aims to provide further insights into foreign investment in Australia by examining the trends, the sources and the positive effects of foreign investment into Australia. The available data on foreign investment in Australia suggests a fairly consistent trend over time despite increases […]