Foreign investors are generally required to submit a foreign investment proposal before acquiring an interest in residential land, regardless of its value.
Significant penalties (including infringement notices, civil and criminal penalties) may apply for breaches of the foreign investment law in relation to residential land.
If you think you may have breached the law, you are strongly encouraged to self‑disclose this to the Government. Lower penalties may apply if a breach is self‑reported.
If you have breached the law by acquiring an interest in residential land without submitting a foreign investment proposal, you may apply for retrospective approval of that acquisition.
The Australian Taxation Office uses comprehensive data matching systems to identify breaches of the law in relation to residential land.
This is also supported by information and activities from other regulatory regimes and government regulators.
Detecting and remedying non‑compliance gives the Australian community assurance that the law is being upheld.
You may need to comply with the reporting requirements attached to your investment and pay the vacancy fee, if required.
If you suspect that there has been a breach of the foreign investment law, you are encouraged to report this. Such reports can be made anonymously.
Guidance Note 14: Compliance and penalties with respect to residential land
- A: Compliance approach with respect to residential land
- B: Penalty amounts for non-compliance
- C: Retrospective approvals (and disposal orders)
- D: The types of penalties – infringement notices
- E: The types of penalties – civil and criminal penalties
- Further information