24th April 2023 | Investments
Foreign investments is important for Australia’s economy and helps Australians by creating financial growth. Suppose you want to invest in Australian property, land, or water and are not an Australian citizen. In that case, you might need to apply to the Foreign investments Review Board (FIRB) and register your investment. First, check if you’re classified as foreign based on your visa, residency, and investor ownership.
As part of foreign investment reforms, a new Register of Foreign Ownership of Australian Assets will be introduced on 1 July 2023. Representatives acting on behalf of their foreign investor clients will also need their own myGovIDExternal Link.
From 26 June 2023, our new ATO online service, Online services for foreign investors, will be available. You will be able to use this service to manage a range of foreign investment obligations online, including:
- applying for residential approval
- registering your assets
- updating your details
- lodging your vacancy fee return.
To find out more, contact us at info@Ax3.com.au or call our office to make an appointment with our agents. 03 99957261
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