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.
Media Release by the Treasurer, the Hon Scott Morrison MP (as at 8/4/2017)
Treasurer Scott Morrison has today announced the appointment of David Irvine AO as Chair of the Foreign Investment Review Board, replacing outgoing Chair Brian Wilson.
The screening of non-sensitive commercial real estate and internal reorganisation (restructure) foreign investment applications will be undertaken by the ATO from 1 April 2017. This is an internal administrative change by Government and will not require any action by Foreign Investment Review Board (FIRB) applicants.
The Government has released a consultation paper on proposed changes to Australia's foreign investment framework. The consultation paper seeks views from stakeholders on proposed changes in the areas of residential land, non-vacant commercial land, low sensitivity business investment and fees.
The paper also provides an opportunity for stakeholders to present examples on how technical issues in the legislation could be addressed and any further ideas for reform.
Media Release by the Treasurer, the Hon Scott Morrison MP (as at 6/2/2017)
Media Release by the Treasurer, the Hon Scott Morrison MP (as at 9/12/2016)
Treasury has released a new Working Paper on foreign investment and residential property price growth. A key finding of the paper is that the majority of residential real estate price growth experienced in recent times does not appear to be attributable to increased foreign demand.
Media Release by the Treasurer, the Hon Scott Morrison MP (as at 26/11/2016)
The Treasurer, Scott Morrison, has distributed a media release regarding changes under the foreign investment framework to allow foreign buyers to purchase an off-the-plan dwelling when another foreign buyer has failed to reach settlement.
Media Release by the Treasurer, the Hon Scott Morrison MP (as at 19/09/2016)
The Treasurer, Scott Morrison, has distributed a media release regarding the Turnbull Government's 16 forced sales of properties held as investments by foreign nationals in breach of the foreign investment framework.
Statement by the Treasurer, the Hon Scott Morrison MP (as at 07/09/2016)
The Treasurer has released the first report on data collected through the Register of Foreign Ownership of Agricultural Land.