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ARTICLE · 16 FEBRUARY 2015

Changes to foreign investment in agriculture

HopgoodGanim
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The Federal Government has reaffirmed that it will announce key changes to foreign investment in the agriculture sector.

AustraliaGovernment, Public Sector
Alex Davies
Alex Davies
Lea Fua
Lea Fua
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In our Alert dated 18 November 2014, we noted that the Federal Government had entered into the Australia/China Free Trade Agreement and that some key changes were proposed to the way the Foreign Investment Review Board (FIRB) would deal with inbound investment. In Canberra earlier today, Prime Minister Tony Abbott reaffirmed that the Federal Government is set to announce key changes to foreign investment in the agriculture sector.

In this Alert, Senior Associates Alex Davies and Lea Fua highlight these new changes and how they will effect inbound foreign investment.

Key points

  • Foreign investors in agricultural land are set to come under greater scrutiny on disclosure.
  • Effective from 1 March 2015, the FIRB screening threshold for acquisitions of farmland will be dropped from $252 million to $15 million.

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