Australian Government to Make Foreign Investment More Costly


Foreign investment into Australia will become more expensive as the recently elected Labor government looks to shore up finances.

Treasurer Jim Chalmers said there would be an increase in fees and penalties for purchases of property, farms and businesses.

Chalmers said on Friday he is grappling with protracted budget deficits and needs to boost government revenue.

The higher fees are expected to generate an additional A$455 million ($315 million) in revenue over the next four years, Chalmers said.

The treasurer said he continued to back foreign investment in Australia but he had to make the decision due to “the state of the budget we have inherited from our predecessors”.

Chalmers earlier this week warned the country’s economic picture would be “confronting” as the government prepares to release updated economic forecasts to parliament on July 28 to account for faster inflation and rising interest rates.

“Foreign investment fees will continue to make up only a small proportion of total foreign direct investment,” he said in a statement. The new measures will take effect from July 29.


  • Reuters, with additional editing by George Russell




Australia’s BHP to Review Coal Mining After Royalties ‘Triple’

Acciona Plans $26bn Splurge on Australian Clean Energy – SMH

TikTok Says Australian Data Can Be Accessed in China



George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

Recent Posts

China, India Imports of Russian Oil Surge to Record Highs

The world's No1 and No3 crude importers bought about 110 million barrels of Russian crude…

14 hours ago

Indonesia’s Mining, EV Battery Plans Get $9 Billion Boost

The investment, from a British consortium that includes mining giant Glencore, will go into a…

16 hours ago

Nvidia Feels ‘Perfectly Safe’ Relying Heavily on Taiwan Chips

"The process of diversifying in different geographies is an excellent strategy by TSMC and so…

17 hours ago

Foreigners Pulled $1.7 Billion Out of China Shares in May

Refinitiv data shows foreigners sold $1.71 billion worth of mainland shares via Stock Connect in…

17 hours ago

Singapore Tech Giant Sea Pulls Plug on Investment Arm

Sea Capital had invested in collapsed cryptocurrency exchange FTX and its parent had seen its…

17 hours ago

China Starts Drilling 10,000-Metre Deep Hole in Xinjiang – Xinhua

State media hailed the effort as "a landmark in China's deep-Earth exploration" that provides "an…

18 hours ago