FOREIGN PROPERTY OWNERS WOULD BE RECORDED ON A NATIONAL DATABASE AND THOSE RORTING LAWS RESTRICTING FOREIGN OWNERSHIP WOULD BE FINED UNDER PROPOSALS TO CRACK DOWN ON FOREIGNERS ILLEGALLY SNAPPING UP AUSTRALIAN HOMES. A parliamentary economics committee report, to be tabled Thursday, calls for a crackdown on foreigners who have been buying Australian homes in contravention of laws designed to stop overseas owners purchasing existing Australian housing stock. The committee is understood to have found that the Foreign Investment Review Board and the trade policy division of Treasury had comprehensively failed to enforce laws preventing foreign owners from buying existing houses except in limited circumstances. There was also a lack of data about how many foreigners had purchased homes after being approved to do so. theaustralian.au/news/national-property-database-eye-on-illegal-foreign-owners/story-e6frg6n6-1227136065393
Posted on: Fri, 28 Nov 2014 01:38:03 +0000
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