The Treasurer is responsible for Australia’s foreign investment policy and making decisions on foreign investment proposals.

The Treasurer has enforcement powers and delegates these to Treasury and Australian Taxation Office staff.

The Assistant Minister for Competition, Charities and Treasury is delegated specific, high value decisions and the Treasurer has delegated decision making for non‑sensitive matters to Treasury and Australian Taxation Office officers.

• considers some proposed investments that are subject to the framework
• advises the Treasurer about these proposals
• promotes awareness and understanding of Australia’s foreign investment framework in Australia and overseas.

Treasury advises the Australian Government on all aspects of foreign investment policy.

Treasury administers the foreign investment framework and undertakes regulatory functions concerning investment proposals for acquisitions of interests in entities, businesses, agricultural and commercial land. Treasury:

• reviews investment proposals covered by the foreign investment framework
• fosters, verifies and enforces compliance with the foreign investment framework

In some cases, the Treasurer has delegated enforcement powers to Treasury and ATO officers.

The ATO undertakes regulatory functions under the foreign investment framework in relation to the review of investment proposals for residential real estate.

The ATO:

• reviews investment proposals relating to residential real estate, as covered by the foreign investment framework
• administers the vacancy fee
• fosters and enforces compliance with the foreign investment framework

The ATO works closely with the Treasury and is a consultation partner under the foreign investment framework.

The Commissioner of Taxation is also appointed as the Registrar for the Register of Foreign Ownership of Australian Assets (the Register). For more information, visit ATO’s Register of Foreign Ownership of Australian Assets page.