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, updated on 18 May 2020, which addresses the effects of the changes. All material on this website should be read in light of the Treasurer’s announcement.

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.

To ensure sufficient time for screening applications, you will be contacted by FIRB and asked to request that the decision period for your foreign investment application involving significant actions and/or exemption certificates be extended by up to 6 months from the date that your application fee is paid. Extending your statutory deadline to 6 months does not mean that your application will take the full six months to process.

The Government will prioritise urgent applications for investments that directly protect and support Australian businesses and Australian jobs, taking account of any commercial deadlines related to those proposed investments. We apologise for any inconvenience caused.

Related:

Guidance Note 53: Temporary measures in response to the coronavirus

Foreign Acquisitions and Takeovers Amendment (Threshold Test) Regulations 2020

Media Release - The Hon Josh Frydenberg MP - Changes to foreign investment framework [29/03/2020]

Media Release - David Irvine - Temporary changes to the foreign investment review framework [29/03/2020]

Questions & Answers - Temporary changes to foreign investment framework

Update from David Irvine, Chair of the Foreign Investment Review Board