The Treasurer has announced changes to Australia’s foreign investment review framework, effective from 10.30pm AEDT on Sunday 29 March 2020, relating to monetary thresholds and timeframes for reviewing applications. Details are available in our Guidance Note number 53, which addresses the effects of the changes. All material on this website should be read in light of the Treasurer’s announcement.
Further to the update on Foreign Investment Review arrangements posted on 16 November 2020, Treasury is able to share the following information with foreign investors (subject to the passage of the Foreign Investment Reform (Protecting Australia’s National Security) Bill 2020).
The Foreign Investment Reform (Protecting Australia’s National Security) Bill 2020 and Foreign Acquisitions and Takeovers Fees Imposition Amendment Bill 2020 was introduced into the Parliament on 28 October 2020.
Guidance material is being prepared to assist foreign investors to meet their obligations under the proposed reforms, including transitional arrangements from the existing framework.
The first two Insights reports based on the Register of Foreign Ownership of Residential Land are now available on the FIRB website.