Compliance obligations update

The Treasury has today provided further guidance for investors in relation to their compliance and reporting obligations under the foreign investment framework and the application of Treasury’s compliance and enforcement powers on the FIRB website. The update reinforces that maintaining strong compliance with Australia’s foreign investment legislation is a priority for the Australian Government, reinforces the expectation that investors are aware of, understand and comply with their obligations under Australia’s foreign investment laws and outlines Treasury’s approach to exercising its compliance and enforcement powers under the major reforms to the framework that commenced on 1 January 2021.