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, updated on 18 May 2020, which addresses the effects of the changes. All material on this website should be read in light of the Treasurer’s announcement.

Statement - Reforms to the Foreign Investment Review Framework

The Foreign Investment Review Board fully supports the changes to the foreign investment review framework announced today by the Treasurer, having been closely engaged in their development over a long period.

This is a significant package of reforms that will put Australia’s foreign investment review framework on a stronger and more sustainable footing.

The package appropriately addresses increasing risks to the national interest whilst ensuring Australia remains welcoming and open to foreign investment.

DAVID IRVINE AO
Chair, Foreign Investment Review Board