Australia to go live with foreign ownership register on 1 July this year 

Mark Battersby
clock • 1 min read

The Australian Taxation Office (ATO) has informally announced that a new Register of Foreign Ownership of Australian Assets (Register) will be introduced on 1 July 2023. From that date, individual or corporate foreign persons will have 30 days to give the ATO notice of acquisition of an interest in Australian land regardless of value, if they become a foreign person while holding relevant Australian interests, or if certain circumstances change after an event has been registered. The legislation governing the new register is Part 7A of the Foreign Acquisitions and Takeovers Act (FATA)...

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