House of Representatives
Foreign Acquisitions and Takeovers Fees Imposition Amendment (Near-new Dwelling Interests) Bill 2019
Second Reading Speech
Mr SUKKAR (Deakin - Assistant Treasurer and Minister for Housing)I move:
That this bill be now read a second time.
This bill just contains some very minor technical amendments that support changes announced in the 2017-18 budget which streamlined foreign investment frameworks.
These amendments introduce a reconciliation fee on developers for dwellings sold to foreign persons under a near-new dwelling exemption certificate. The near-new dwelling exemption certificate was introduced through regulatory amendments that took effect from 24 June 2017.
The full details of these minor technical amendments are contained in the explanatory memorandum.
Debate adjourned.