Doubling of Foreign Investment Fees
Treasurer Jim Chalmers is doubling fees for foreign investors from 29 July 2022.
Treasurer Jim Chalmers has announced changes to foreign investment fees for foreign investors acquiring assets in Australia.
An estimated $455 million extra in Foreign Investment Review Board (FIRB) fees over the next four years will be payable by foreign investors, under new regulations implemented by the Treasurer.
The fees vary across residential, agricultural, and commercial land and business investments and their cost, starting at $13,200 for acquisitions of $1 million or less, rising to a maximum fee of $1.045 million where the investment is greater.
The maximum fees for large corporate transactions will double to $1.045 million, from $522,500.
The table below is a snapshot of the increase to the fees to take effect from 12.01am on Friday, 29th of July.
|Consideration for the action||Applicable fee (single action)|
|Residential land||Agricultural land||Commercial land, tenements, businesses and entities||Pre-29 July||Post-28 July|
|$1 million or less||$2 million or less||$50 million or less||$6,600||$13,200|
|$2 million or less||$4 million or less||$100 million or less||$13,200||$26,400|
|$3 million or less||$6 million or less||$150 million or less||$26,400||$52,800|
|$4 million or less||$8 million or less||$200 million or less||$39,600||$79,200|
|$5 million or less||$10 million or less||$250 million or less||$52,800||$105,600|
|Over $40 million||Over $80 million||Over $2 billion||$522,500 maximum fee||$1,045,000 maximum fee|
The increased foreign investment fees will apply to notifications and applications made on or after 29 July 2022. If notice of a notifiable action was given or an application made in the approved manner prior to 29 July 2022, the fee payable will be the fee specified in the relevant pre-29 July 2022 fee schedule.