Posted by: Tony Allen
The Australian Treasury is actively investigating 532 cases of possible breaches of the Government’s foreign investment rules. Treasury has recently forced various foreign owners to sell a further seven illegally held residential properties located in Victoria, New South Wales and Queensland. Since it took office in 2013, the government has forced foreign nationals to sell 19 properties.The Treasurer has recently reminded foreign investors who have purchased residential properties without notifying the Foreign Investment Review Board that they have until 30 November 2015 to disclose those transactions without penalty. [Click here to read more]
If you are a foreign national and are uncertain as to your obligations in respect of your purchase of residential property then please call me to discuss.
