Australian Law Impacting Companies Owning Australian Assets

On 1 July 2023, a new Register of Foreign Ownership of Australian Assets (“the Register”) is expected to come into effect under the Foreign Acquisitions and Takeovers Act 1975 (FATA), together with corresponding obligations on foreign persons to report ownership of Australian assets.

Below is a link to an article by Clayton Utz setting out a summary of new events required to be reported.

New Register of Foreign Ownership of Australian Assets to commence from 1 July2023 – Knowledge – Clayton Utz

We understand that there is no fee for registering. However, civil penalties will apply for a failure to give notice within the requisite period.

Additional information on the Register may be obtained from the Australian Taxation Office website
Foreign investment in residential real estate: Our compliance approach | Australian Taxation Office (ato.gov.au) &
Register of Foreign Ownership of Australian Assets | Australian Taxation Office (ato.gov.au).

The new obligations are expected to only apply to events after the commencement date, so interests acquired before the Register commences will not need to be registered, unless the ATO makes additional regulations requiring this. However, existing obligations to register foreign interests in Australian water, agricultural or residential land and certain other assetsstill apply.

If your entity holds Australian property or interests in Australian Businesses, we strongly recommended that you seek relevant advice from an Australian Counsel to determine if there would be an obligation to report under the imminent legislation.

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Portcullis (BVI) Ltd
Portcullis Chambers
4th Floor, Ellen Skelton Building
3076 Sir Francis Drake Highway
Road Town, Tortola, VG1110
+1284 494 5296
Info.bvi@portcullis.co
www.portcullis.co

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新制澳洲法規對公司持有澳洲資產之影響

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按澳洲「外國收購與併購法」（Foreign Acquisitions and Takeovers Act 1975,FATA）之規定，新制外國人持有澳洲資產之所有權登記冊（以下簡稱「登記冊」）將自2023年7月1日起生效。屆時，所有外國人應履行其澳洲資產所有權之相關申報義務。

Clayton Utz 法律事務所已整理並說明申報之新規定，連結如下：

新制外國人持有澳洲資產之所有權登記冊將自2023年7月1日起生效｜觀點｜Clayton Utz 官網

按現行規定，公司無需繳納任何登記費用；惟若未於規定期限完成登記則將按其民事行政義務處以罰鍰。
登記冊相關之詳細資訊請至澳洲稅務局 （ATO）官網查詢，連結如下：

外國人投資住宅房地產：法規遵循程序｜澳洲稅務局 （ato.gov.au）
外國人持有澳洲資產之所有權登記冊｜澳洲稅務局 （ato.gov.au）

新制申報義務僅適用自生效日後發生之情形。故於澳洲稅務局頒布後續相關規定前，目前尚無需登記於生效日前取得之澳洲資產所有權。然現行與持有澳洲水資源、農業或住宅用地以及其他特定資產所有權相關之申報義務，則持續適用。

保得利在此建議貴公司若持有澳洲房地產或企業， 應立即向澳洲當地法律顧問尋求專業協助，以確認即新制法規對貴公司申報義務之影響。

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Portcullis (BVI) Ltd
Portcullis Chambers
4th Floor, Ellen Skelton Building
3076 Sir Francis Drake Highway
Road Town, Tortola, VG1110
+1284 494 5296
Info.bvi@portcullis.co
www.portcullis.co