Introduction
On 2 May 2015, the Australian government announced a series of
changes to the foreign investment framework including further
details on the lower threshold for agriculture-related
acquisitions, new FIRB application fees, and stricter enforcement
regime for real estate acquisitions.
Acquisition of agriculture land & business
As mentioned in our last FIRB Investment Update, the Australian
government reduced the screening threshold for acquisitions of
Australian agricultural land to $15 million (cumulative) for most
non-government foreign investors. Non-government investments from
US, New Zealand and Chile will continue to enjoy a higher threshold
of $1,094 million consistent with the free trade agreement entered
into with those countries. The reduced threshold also does not
apply to investors from Singapore and Thailand. These changes took
effect on 1 March 2015.
