Govt to crackdown on foreign investments amid pandemic

All foreign investments in Australia will now require approval regardless of how much they’re worth under temporary changes to the foreign investment framework. The Federal Government says the move will protect Australia’s national interest and assets from the economic fallout caused by the coronavirus pandemic. Previously, foreign investors had to apply for approval before purchasing land or assets in Australia if the value is over a certain threshold. For private investors from free-trading agreement partner countries, that limit ranges from $50 million to $1.1 billion, for land and non-land proposals.…

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