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 […]
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 […]
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 […]
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.
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 […]
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 […]
1 December 2015
Statement by the Treasurer, the Hon Scott Morrison
30 November 2015
From 1 December, the Government introduced changes to strengthen Australia’s foreign investment framework through amendments to the Foreign Acquisitions and Takeovers Act 1975 and the introduction of the Foreign Acquisitions and Takeovers Imposition Fees Act 2015. The legislation aims to strengthen the laws around foreign investment and will impose penalties for breaching the foreign investment rules.