Register of Foreign Investment in Agricultural Land
From 1 July 2015 all foreign investors who hold interests in agricultural land must register those interests with the Australian Taxation Office (ATO) regardless of the value of that land.
The ATO will collect information such as the location and size of property and size of interest acquired on new foreign investment in agricultural land to develop a national register. This data will be made available to the public from 2016.
All existing holdings must be registered with the ATO by 31 December 2015 and any new interests registered within 30 days.
Additionally, since 1 March 2015, the screening threshold for foreign purchases of agricultural land by private sector investors has been lowered from $252 million to $15 million.
As a result, the Foreign Investment Review Board (FIRB) is reviewing an additional 30 proposals that would otherwise have avoided scrutiny.
Foreign government-related entities and state-owned enterprises the FIRB scrutiny threshold for all proposed investments, including in agricultural land, remains at zero.
Ref: Treasurer’s Media Release 29 June 2015
Interested in joining our team? Why not apply today?
About Our Traineeships:-
Join the Market Leader in 2016 – Accounting Traineeships
Looking to study a B.Com at University of Newcastle in 2016?
Bottrell Business Consultants are a Multi Award Winning Firm
We have 2016 Traineeships available – work 3 days Study part-time 2 days
Apply now to Tara Skippen on tara@bottrellaccounting.com.au – send resume & cover letter
www.bottrellaccounting.com.au or check us out on Facebook, Twitter, Instagram or LinkedIn
Offices – East Maitland | Newcastle | Sydney | Melbourne | Brisbane | Gold Coast
Bottrell Business Consultants Pty Ltd – Chartered Accountants and Business Advisors.
The Bottrell group incorporates Bottrell Business Consultants, Bottrell Accounting & Taxation, Maitland Accounting & Taxation, East Maitland Accounting Services and Mobile Bookkeeping & Recruitment.
Our group of businesses & links include the following companies (& our websites);-
- Bottrell Accounting & Taxation – Visit out website
- Bottrel Business Consultants Pty Ltd – Visit our website
- Maitland Accounting & Taxation – Visit our website
- East Maitland Accounting Services – Visit our website
- Mobile Bookkeeping & Recruitment – Visit our website
Comments are closed.