Foreign Acquisitions and Takeovers Act 1975
Hide history note
View history notePt 5 inserted by No 150 of 2015, s 3, Sch 1[4] (effective 1 December 2015).
For application and transitional provisions by No 150 of 2015, Sch 3, see Transitional Information under this Act.
Div 3 inserted by No 150 of 2015, s 3, Sch 1[4] (effective 1 December 2015).
For application and transitional provisions by No 150 of 2015, Sch 3, see Transitional Information under this Act.
Subdiv C inserted by No 150 of 2015, s 3, Sch 1[4] (effective 1 December 2015).
For application and transitional provisions by No 150 of 2015, Sch 3, see Transitional Information under this Act.
A person must not take an action relating to a residential land acquisition when prohibited by paragraph 79A(3)(b) or subsection 79A(4) .
95A(2)
A person who contravenes subsection (1) is liable to a civil penalty.
Penalty
95A(3)
The maximum penalty for the contravention is the greatest of the following: (a) double the amount of the capital gain that was made or would be made on the disposal of the interest in the relevant residential land; (b) 50% of the consideration for the residential land acquisition; (c) 50% of the market value of the interest in the relevant residential land.
Note 1: Consideration is defined by the regulations (see section 4 ).
Note 2: For how to work out the capital gain, see section 98 .
S 95A amended by No 75 of 2022, s 3, Sch 1[7] and [ 8] (applicable in relation to: (a) a contravention of subsection 95(1) of the Foreign Acquisitions and Takeovers Act 1975 that: (i) started before 1 January 2023 and did not end before 1 January 2023; or (ii) starts on or after 1 January 2023; or (b) a contravention of any other provision of that Act committed on or after 1 January 2023.).
S 95A inserted by No 114 of 2020, s 3, Sch 1[176] (effective 1 January 2021).
For application and transitional provisions by No 114 of 2020, Sch 1 items 227 to 250, see Transitional Information under this Act.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
