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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Australasia Covid19 

Australia: Drastic new restrictions on indoor gatherings

Prime Minister Scott Morrison has announced drastic new restrictions on non-essential indoor gatherings in an effort to slow the spread of coronavirus. In addition to the existing limit of no more than 100 people in an indoor space, Morrison announced there should be no more than one person per four square metres. “If you have a meeting room or something like that, that is 100 metres, you can have 25 people in that room,” Morrison explained to reporters on Friday. The 1.5-metre social distancing recommendation remained valid, he said. The…

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