AUSTRALIA: FIRB Publishes Revised Foreign Investment Applications and Notices Fees

Monday June 27 2016

The Foreign Investment Review Board (FIRB) has published revised fees for foreign investment applications and notices.

Section 12 of the Foreign Acquisitions and Takeovers Fees Imposition Act 2015 provides that fees for applications and notices are indexed each financial year from the averages of the consumer price index (CPI).

The new fees apply from 1 July 2016 and have been calculated using an indexation factor of 1.015.

The list of revised fees can be viewed on the FIRB website, and include:

• A charge of $91,300 for the acquisition of residential land valued above $9m and less than $10m;
• where the acquisition of residential land is $10m or more, the Australian Taxation Office needs to be contacted (fees are tiered per million); and
• for the acquisition of an Australian agribusiness valued at between $1bn or less, a fee of $25,300 applies.

Please click the above link for more information.