Australia: Relaxation of restrictions on investment in residential real estate.
Description
On 27 March 2009 the Federal Government of Australia issued the Foreign Acquisitions and Takeover Legislation Amendment Regulations 2009 (No.1). This regulation relaxes, but does not eliminate, the restrictions on foreign nationals and corporations on purchasing residential real estate in Australia as long as those purchases do not conflict with the national interest. Acquisitions below A$200 million can no longer be prohibited by the Treasurer. Acquisitions of commercial non-residential property below certain thresholds need not notify the government either. Where notification is necessary a streamlined procedure has been introduced.
Any Evidence-Based Deliberation:
| Question | Result |
|---|---|
| Is there anything in the public record to suggest that evidence of the effectiveness of the proposed measure was considered during official deliberations? | Don't know |
| Is there any evidence that alternatives to the proposed measure were considered? | Don't Know |
| Is there anything in the public record that suggests that empirical evidence informed the comparison across the alternatives available to government? | Don't Know |
| Was such evidence identified? | Don't Know |
| Is such evidence publicly available? | Don't Know |
| Did the official decision-maker in question provide an explanation as to why a chosen measure was favoured over alternatives? | Don't Know |
| Is there any evidence to suggest that potentially affected trading partners were consulted before the measures were taken? | Don't Know |
| Is there any evidence that safeguards have been put in place to ensure that implementation of the initiative is transparent and non-discriminatory? | Don't Know |
| Did the government state its intention to review the measure within one year of implementation? | Don't Know |
Date Discovered: 09/09/2009
Implemented: Yes
Date of inception: 31 Mar 2009
GTA Evaluation: Green
Government Response:
- 453 reads
