FIRB Annual Report 2018-19

The 2018-19 Foreign Investment Review Board (FIRB) Annual Report is now available.

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Amended Regulation Details

Consistent with the Treasurer’s announcement on 29 March 2020 of temporary changes to Australia’s foreign investment framework, the Government has introduced amendments to the Foreign Acquisitions and Takeovers Regulation 2015. The Regulation amends the monetary value thresholds which apply in determining whether particular foreign investments made on or after 10:30 pm (AEDT) Sunday, 29 March 2020 are subject to Australia’s foreign investment framework to nil.

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FIRB Phone line

If you are experiencing issues contacting our staff via the FIRB phone line +61 2 6263 3795, please be aware that you can also contact our staff using the following email: FIRBEnquiries@treasury.gov.au.

Changes to foreign investment framework

Following the Treasurer’s announcement of Sunday, 29 March 2020, the threshold amounts which apply in determining whether particular foreign investments made on or after 10:30 pm (AEDT) Sunday, 29 March 2020 are subject to Australia’s foreign investment framework are now $0.

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Requests for discretionary refunds of fees on withdrawals of foreign investment applications

The Foreign Investment Review Board (FIRB) recognises that measures being implemented globally, and in Australia by governments, businesses and individuals, in relation to the COVID-19 pandemic are affecting the ability of some investors to progress investment decisions.

Where those measures are resulting in delays to, or deferrals of, investment decisions that are currently the subject of a foreign investment application, and the applicant wishes to withdraw that application, the FIRB will consider refunding the fee paid. This notice provides a temporary exception to the advice provided in Guidance Note 29 and 30 concerning fee refunds in the event of a withdrawal.

Applicants should clearly state the reasons for their remittance request at the time of withdrawal. With reference to the national interest, the FIRB will retain its discretion not to refund fees where the decision to withdraw is not clearly linked to the above factors.