Bill
Treasury Laws Amendment (Foreign Investment) Bill 2024
passed, as at 2024-04-08. Treasury portfolio.
- Sponsor
- Not recorded
- Portfolio
- Treasury
Recorded stages
- introduced — 2024-02-07
- second reading — 2024-02-07
- other — 2024-02-13
- second reading — 2024-02-13
- second reading — 2024-02-13
- other — 2024-02-14
- third reading — 2024-02-14
- introduced — 2024-02-26
- second reading — 2024-02-26
- second reading — 2024-03-27
- third reading — 2024-03-27
- passed — 2024-03-27
- royal assent — 2024-04-08
Divisions
No divisions recorded. Most questions are decided on the voices; this does not establish that a bill was unopposed.
Plain-language summary
Written by a model from the explanatory memorandum; not the record, as at 2024-02-07.
This bill is part of a package that also includes the Foreign Acquisitions and Takeovers Fees Imposition Amendment Bill 2024.
The package would triple fees for buying established homes and double vacancy fees under Australia's foreign investment rules.
The bill would ensure that these higher fees, along with other foreign investment charges and similar state property taxes, override any conflicting double tax agreements.
- Triples fees for acquiring established residential dwellings.
- Doubles vacancy fees for residential dwellings.
- Clarifies that foreign investment fees and state property taxes prevail over inconsistencies with double tax agreements.
Foreign investors buying established residential dwellings in Australia.
Sources
em
billhome
frl act