Substantial changes to Australia's foreign investment regime
are one step closer with today's introduction into Federal
Parliament of the:
- Foreign Acquisitions and Takeovers Legislation Amendment Bill
2015 (FATA);
- Register of Foreign Ownership of Agricultural Land Bill 2015;
and
- Foreign Acquisitions and Takeovers Fees Imposition Bill
2015.
TheTax and Superannuation Laws Amendment (2015 Measures No. 5)
Bill 2015: Foreign resident capital gains withholding payments,
forms part of the package but is yet to be introduced into Federal
Parliament. The Foreign Acquisitions and Takeovers Regulation 2015
(Regulation) will be made after the FATA is
passed. The proposed changes will introduce new concepts,
thresholds, fees and penalties, and changes to taxation from 1
December 2015. The aim is to strengthen the enforcement of our
foreign investment rules and increase the transparency of foreign
ownership.
