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ATO – Foreign Ownership of Agricultural Land Report

The fourth report of the Register of Foreign Ownership of Agricultural Land as at 30 June 2019 was released on the 19 June 2020 . Key findings of the report show foreign ownership of Australian agricultural land at 13.8%, compared to 13.4% last year. The majority continues to be in the form of leasehold interests. Under legislation, foreign persons who purchase Australian agricultural land are required to register their interest on the Register of Foreign Ownership of Agricultural Land. This means your client must register if they are a foreign person and hold an interest in agricultural land. Your client will also need to notify us if: they are no longer a foreign person they became a foreign person while holding agricultural land they no longer hold agricultural land the land ceases to be agricultural land while your client is holding it. To register or update us of changes to your client’s situation, complete the Land and water registration form. Your client’s initial purchase must be recorded with us within 30 days of the date of purchase and any further events must also be recorded with us within 30 days of the event. Penalties may apply to your client for failing to register or inform us of changes to their situation. For enquiries contact us between 8.00am and 5.00pm AEST Monday to Friday, on 1800 050 377 or +61 2 6216 1111 (if outside Australia).