On 1 January 2023, the maximum financial penalties for contraventions of provisions in the Foreign Acquisitions and Takeovers Act 1975 that relate solely to residential land were doubled.
The monetary screening thresholds under the foreign investment framework are indexed on 1 January 2023. View the updated thresholds.
The Treasury has published the first quarterly report on regulation of foreign investment in Australia. The report sets out key performance data concerning the operation of Australia’s foreign investment regulatory framework.
The Treasury will publish a quarterly report after the end of the relevant quarter, and annual reporting information will be set out in the Treasury’s Annual Report.
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The Treasury and the Australian Taxation Office will close on the afternoon of Friday 23 December and re‑open at 9.00 am Tuesday 3 January 2023. Foreign Investment applications will not be processed during this shutdown period.
Applications received after Wednesday 30 November 2022 may not be processed before the Christmas/New Year holiday period. Case officers may contact you directly to discuss options if an application is expected to be finalised in the new year.
On Monday 21 November 2022 Mr Bruce Miller AO, the Chair of the Foreign Investment Review Board, delivered a speech to the Australian Financial Review’s 2022 Infrastructure Summit. Mr Miller spoke on the importance of foreign investment for building Australian infrastructure, with particular regard to meeting the demands of Australia’s ongoing energy transition.
The Register, which is maintained by the Australian Taxation Office (ATO), has been established to provide greater transparency about levels of foreign investment in residential real estate in Australia.
On 22 July 2022, the Treasurer announced that foreign investment fees would double from 29 July 2022.
The Treasurer has announced that foreign investment fees will be doubled from 29 July 2022.
Our digital transformation program, aimed at modernising the way foreign investment is managed and regulated, is in the design and delivery phase. During this phase, we are consulting with investors and agents to help us design a system which is efficient and accessible. (Note – our system deals with business investment, not residential real estate).
Foreign investment application fees have been indexed for the 2022‑23 year. Revised fees will apply to applications made and notices given as of 1 July 2022. The fee schedule and further information on the application of fees is provided in Guidance 10.
Our digital transformation program, aimed at modernising the way foreign investment is managed and regulated, is now in the design and delivery phase. During this phase, we will consult with investors and agents to help us design a system which is efficient and accessible. Please note – our system deals with all non‑residential foreign investment.
Our next online consultation session for investors and agents is scheduled for Tuesday 17/05/2022 at 2.00 – 3.00pm Australian Eastern Standard Time (AEST).
The Treasury has today updated the Guidance Notes on the FIRB website.
Foreign investors are advised that the Foreign Acquisitions and Takeovers Amendment Regulations 2022 commenced on 1 April 2022 and was registered on the Federal Register of Legislation on 31 March 2022. The Explanatory Statement for this change is available.