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 recent News article, including Q&A. Material on the FIRB website is being updated to capture these changes. In the meantime, all material on this website, including guidance notes, should be read in light of the Treasurer’s announcement.
The Treasurer has today announced temporary changes to the foreign investment review framework. The Foreign Investment Review Board (FIRB) was consulted upon and fully supports the changes.
These temporary measures have been necessitated by extraordinary economic circumstances. Foreign investment is and will continue to be critical to Australia’s prosperity. These temporary measures are necessary to protect the national interest during an historically challenging time for the economy, businesses and the broader community.
Following the Treasurer’s announcement of Sunday, 29 March 2020, the threshold amounts which apply in determining whether particular foreign investments made on or after 10:30 pm (AEDT) Sunday, 29 March 2020 are subject to Australia’s foreign investment framework are now $0.
The Foreign Investment Review Board (FIRB) recognises that measures being implemented globally, and in Australia by governments, businesses and individuals, in relation to the COVID-19 pandemic are affecting the ability of some investors to progress investment decisions.