Foreign Investment in Farmland and Agribusinesses under the Microscope from today!

tobinadmin
March 10, 2016
10:21 am

2 July 2015

A new register has been set up by the Australian Federal Government where overseas owners of farmland and agribusinesses must notify the Australian Tax Office by the 31st December 2015.

The new rules also require foreign investors to register any new purchases of farmland with the ATO within 30 days of purchase.

The new requirements follow the Government’s moves in March to require foreign investors to obtain Foreign Investment Review Board (FIRB) approval of farmland purchases of $15m or more.

Any foreign investment in agribusinesses of $55m or more must also obtain FIRB’s approval.

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