New rules for foreign investors in Australia
Posted by Webmaster | Filed under News Bites
The Australian Government has proposed new rules for foreign investors buying Australian agricultural land.
Subject to exceptional circumstances, foreign investors will need to demonstrate that any agricultural land they intend to acquire has been part of a public sales process and marketed widely to potential Australian bidders for a minimum of 30 days, and Australian bidders have had an opportunity to participate in the sale process.
The move is aimed at reassuring Australians that agriculture land is undergoing an open and transparent sale process. Many in the agriculture sector, however, believe making the buying process more difficult for foreign investors is bad for Australian agriculture.
Published at the beginning of each season, Sprout is a celebration of local food, producers and cuisine. It is about living sustainably through promoting fresh, seasonal produce from local farms and encouraging people to make a difference by growing their own food and making sustainable food choices.