There has recently been a number of important changes in the rules and policy relating to foreign investment in Australian real estate. Some of these changes have been driven by instances of buyers creating artificial structures to try to avoid the rules.
The changes include:
- A government application fee for all foreign buyers on residential property
- New penalties for non-compliance
- A new reduced threshold for approval of rural or farm land
Below is a summary of the current Foreign Investment Review Board Policy on Property.
We can assist in advising in any property transactions including in correctly structuring for buying property. Contact Michael Sing for further advice and assistance.
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