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ARTICLE · 23 MARCH 2013

Key report delayed until May and new changes to policy by FIRB

Holding Redlich
Holding Redlich
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The update discusses the possible implications for foreign investors and a recently revised Foreign Investment Policy.

AustraliaGovernment, Public Sector
Philip Vickery (Formerly With Holding Redlich)
Philip Vickery (Formerly With Holding Redlich)
Michael MacMahon (Formerly With Holding Redlich)
Michael MacMahon (Formerly With Holding Redlich)
Mark Stavert
Mark Stavert
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In July 2011 the Senate Rural and Regional Affairs and Transport References Committee (Committee) was tasked with preparing a report examining the key "national interest test" which applies to foreign investment in Australia (Report). The publication of the Report has now been delayed until 15 May 2013. Though delayed, the Report is still keenly anticipated.

The Report is likely to provide a platform for important changes to Australia's foreign investment requirements – in particular, foreign investment in agricultural land which has not been far from the spotlight in recent times (e.g. the January sale of Cubbie Station to a majority foreign owned consortium). It will also focus on Australia's future food security, and may recommend a review of tax laws. Given the range of issues being examined by the Committee it is not surprising that there has been a further delay.

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