ATO: Changes to Foreign Investment Framework
On 29 March 2020, the Treasurer announced temporary changes to the foreign investment framework to protect Australia’s national interest while dealing with the economic implications arising from the COVID-19 (coronavirus).
The temporary changes will reduce the monetary screening threshold to $0 for all foreign investment. This means all proposed foreign investments into Australia subject to the Foreign Acquisitions and Takeovers Act 1975 (the Act) will require approval, regardless of value or the nature of the foreign investor.
While Australia continues to welcome foreign investment, these temporary measures are necessary to safeguard the national interest during this challenging time for the Australian economy, businesses and the broader community.
For enquiries contact the Foreign Investment Review Board (FIRB) on +61 2 6263 3795 (weekdays 9am–12:30pm and 1:30pm-5pm) or email email@example.com
Further information is available on the FIRB website
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