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ARTICLE · 06 JUNE 2023

Foreign Direct Investment Update

K&L Gates
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The new Register of Foreign Ownership of Australian Assets is imminent, with the Australian Taxation Office having announced that it will be introduced on 1 July 2023.

AustraliaGovernment, Public Sector
Adam Levine
Adam Levine

WATCH THIS SPACE - REGISTER OF FOREIGN OWNERSHIP OF AUSTRALIAN ASSETS TO COMMENCE SOON

The new Register of Foreign Ownership of Australian Assets (the Register) is imminent, with the Australian Taxation Office (ATO) having announced that it will be introduced on 1 July 2023.

The Register was established in 2021 under the Foreign Acquisitions and Takeovers Act 1975 (Cth) (Act) to record certain actions relating to foreign interests in land, water, entities, businesses and other assets in Australia. Following the commencement of the Register, the existing Register of Foreign Ownership of Water Entitlements, Register of Foreign Ownership of Agricultural Land and the Foreign Ownership Register of Residential Land will be replaced.

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