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.

New legislation details

From 1 December, the Government introduced changes to strengthen Australia’s foreign investment framework through amendments to the Foreign Acquisitions and Takeovers Act 1975 and the introduction of the Foreign Acquisitions and Takeovers Imposition Fees Act 2015. The legislation aims to strengthen the laws around foreign investment and will impose penalties for breaching the foreign investment rules.