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.

Preparations for the new foreign investment reforms

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.

Treasury is engaging with key investors and their advisers on specific elements of the reforms and further guidance and explanatory material to assist foreign investors to meet their proposed obligations under the reforms, including guidance about the portal, will be made available on the FIRB website closer to the proposed commencement date of the reforms.

Enquiries regarding the reforms can be directed to the FIRB enquiries inbox.