9 May 2017
In the 2017-18 Budget, the Australian Government announced several changes regarding the foreign investment framework. Information on each of these changes is provided below. The final details will be subject to the passage of legislation. Further information on the 2017-18 Budget is available at the Budget website. 50 per cent foreign ownership cap for New […]
8 April 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.
9 March 2017
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. A number of factors will be taken into consideration when […]
8 March 2017
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 […]
2 December 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.
26 November 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.
24 November 2016
The guidance note on tax conditions has now been released. It includes a template for reporting back to the Foreign Investment Review Board on compliance with tax conditions. The guidance note is available for download in both PDF and DOCX format.
5 October 2016
To ensure there can be no question as to the integrity of Australia’s foreign investment review system I have decided to suspend the commencement of my proposed role with The Carlyle Group until April 2017, when my term as part-time non-executive chairman of the FIRB expires. On 5 September it was announced that I would […]
Turnbull government orders further 16 forced sales of properties illegally held by foreign nationals
19 September 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.
7 September 2016
The Treasurer has released the first report on data collected through the Register of Foreign Ownership of Agricultural Land.