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.
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.
Statement by the Treasurer, the Hon Scott Morrison MP (as at 19/08/2016)
Statement by the Treasurer, the Hon Scott Morrison MP (as at 11/08/2016)
Fees for foreign investment applications and notices are indexed each financial year from the averages of the consumer price index (CPI). New fees apply from 1 July 2016 which have been calculated using the indexation factor of 1.015.
Section 12 of the Foreign Acquisitions and Takeovers Fees Imposition Act 2015 provides that fees for applications and notices are indexed each financial year. The following fees apply to applications made and notices given from 1 July 2016 to 1 July 2017.
Tonight’s Federal Budget makes important protections to the integrity of Australia’s tax base, designed to ensure that all individuals and businesses pay the right amount of tax.
The application of tax conditions to foreign investors, where it is decided that a particular foreign investment application presents a risk to Australia’s revenue, is an important part of the tax integrity agenda.
Statement by the Treasurer, the Hon Scott Morrison MP (as at 29/04/2016)
The Foreign Investment Review Board 2014-15 Annual Report is now available.
It shows that foreign investment continues to make an important contribution to the Australian economy.
For the second year in a row there has been a significant increase in both the number and value of foreign investment proposals in Australia. Nearly 38,000 proposals received approval for investment worth $194.6 billion. This is an increase in value of 16.3 per cent on investment approved in 2013‑14.
Following the Treasurer's announcement, as of 31 March 2016 sales of critical state-owned infrastructure assets to private foreign investors are now formally reviewed by the Foreign Investment Review Board (FIRB).
The Treasurer, Scott Morrison, has released a joint media release with Deputy Prime Minister and Minister for Agriculture and Water Resources, Barnaby Joyce, reminding foreign owners of Australian agricultural land that they have until 29 February 2016 to register their holdings with the Australian Taxation Office’s Agricultural Land Register.