ANNOUNCEMENT 24 Oct 2012In October 2012, the government of Australia announced altered domestic business conditions for foreign investors.
NUMBER OF INTERVENTIONS
On 24 October 2012, Australia announced plans to introduce a registry requirement for foreign owners of agricultural land. This plan is a reaction to several foreign acquisitions of agricultural land. If implemented, the measure increases administrative costs for foreign investors and is therefore regarded as discriminatory.
The actual requirement of registering within Australian Taxation Offices's Agricultural Land Register came into effect on 1 July 2015 under the Abbott government.
On 22 February 2016, the Australian Agricultural Minister reminded in a speech that all foreign owners of agricultural land would have to register by the 29 February the latest.