Business
FIRB investment fees set to jump on property and business – The Australian Financial Review
Foreign investment in all residential properties except those valued at $38 million or more will attract a rise in fees for screening.
“Stronger and more flexible enforcement options will ensure that our foreign investment regime is able to respond to emerging risks and global developments,” he said.
“While undertaking these reforms Australia still remains open for business and recognises the significant benefit foreign investment provides to our economy.”
In late March the Treasurer introduced zero dollar FIRB screening thresholds to stop opportunistic foreign buyers from China and elsewhere seizing on financially distressed…
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