Government calls for informants to flag illegal foreign buyers
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The federal government has launched a new “tip off” campaign that urges people to inform on foreigners suspected of illegally purchasing Australian residential real estate.
Treasurer Josh Frydenberg has announced that the federal government is launching a new “tip off and compliance campaign”, which seeks to ensure foreign persons purchasing residential real estate in Australia aren’t breaking foreign investment rules.
It also aims to ensure that those who are breaking the rules “are subject to appropriate penalties”.
Under Australia’s foreign investment framework, foreigners seeking to purchase residential real estate in Australia generally need to apply for approval through the Foreign Investment Review Board (FIRB).
There s global interest in Tasmania s wind farms â but can foreign ownership laws cope?
WedWednesday 6
updated
WedWednesday 6
The Chinese-owned Cattle Hill Wind Farm came online with 48 turbines last year.
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On the south-east corner of Australia, the winds known as the Roaring Forties whip across from the Indian Ocean.
Key points:
Most of Tasmania s wind turbines have some form of Chinese ownership
An analyst believes investors are banking on a proposed cable to export energy to the mainland that may not stack up
Some are warning the regulator to learn the lessons of past foreign investments
As they cross Tasmania they lick its mountainous ranges, making the island one of the best spots in the world for wind farms.
Australia Allows Chinese Purchase of Gold Miner While Canada Says ‘No’
China’s second-largest state-owned gold mining company Shandong Gold has won a bidding war to gain control of Australian gold miner Cardinal Resources.
This comes after Five Eyes’ partner Canada blocked Shandong from acquiring a local mine in the strategically important Arctic Circle.
Over a seven-month period, the state-owned Shandong Gold vied mainly with Russian firm Nordgold for control of Perth-based mining company Cardinal.
In June, Cardinal was valued at 46 cents per share. However, by last week Shandong finalised a deal to buy the company for over AU$580 million at $1.075 per share, providing a substantial windfall to shareholders.
New January 1 laws, changes and costs that affect Aussies There are a raft of changes coming to welfare, health, education and other living expenses. This is what’s coming and how it will affect Aussie families.
News by Shoba Rao, Thomas Morgan, Josh Fagan 1st Jan 2021 7:20 AM
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Subscriber only Australians can t holiday overseas yet - but they will be gouged more from today for passports as higher prices and new laws come into force. The Department of Foreign Affairs and Trade confirmed to News Corp passport fees will rise annually on January 1 at the rate of inflation, making a 10-year passport for people aged 16 and over $301, compared to $298 last year.