Categories for FIRB

Foreign Investment change

9/6/2017
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New Charge for Foreign Owners for Empty Properties Foreign persons who apply for approval to purchase residential property after 9 May 2017 will face a new annual vacancy charge to be imposed if the property is not occupied for at least six months per year.The charge will be levied annually and will be equivalent to the purchase application fee imposed at the time the property was acquired by the foreign investor.Details of the new charge can be viewed HERE FIRB approval for sale of...

ATO property reporting to be introduced in 2017

1/1/2017
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From July 1 2017, new Commonwealth Government reporting requirements will be introduced that will affect all real estate property transfers in Western Australia.The reporting requirements are being introduced following agreement by Commonwealth, State and Territory Treasurers to establish a National Register of Foreign Ownership of Land Titles. This Register will be administered nationally by the ATO. In WA, Landgate will collect and report the required information to the ATO.For each transaction of freehold (and some leasehold interests) In real property...

Stonger Foreign Investment Regime comes into force

16/1/2016
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In case you missed it in all the pre Christmas activities, there is now much more stringent F.I.R.B. (Foreign Investment Review Board) compliance in place. Complete with application costs and severe penalties for breaches. It affects Investors, Agents and Developers, please subscribe to my blog to ensure that you are kept informed. 1 December 2015    Media Release The Turnbull Government’s robust new foreign investment regime comes into force today, providing stronger enforcement and a better resourced system with clearer rules for foreign...