Foreign investment in australian agriculture

Casey building, head office of the Department of Foreign Affairs and Trade, foreign investment in australian agriculture Barton, ACT. Minister for Trade, Tourism and Investment, presently the Hon. The department was abolished on 14 November 1916 and its responsibilities were undertaken by the Prime Minister’s Department and the Department of Home and Territories.

It was re-established on 21 December 1921. The Department of External Affairs was renamed the Department of Foreign Affairs in 1970. DFAT is administered by a senior executive, comprising a secretary and five deputy secretaries. The department is responsible to the Minister for Foreign Affairs, the Minister for Trade, Tourism and Investment, the Minister for International Development and the Pacific, and the Assistant Minister for Trade, Tourism and Investment. The department has a staff of around 3,300 employees, of which 1,300 are foreign staff employed by missions directly, and 1,500 are Australian employees based in Australia, and some 500 are diplomats serving overseas.

The department maintains offices in each state and mainland territory to provide consular and passport services, and to perform an important liaison service for business throughout Australia. In addition, it has a Torres Strait Treaty Liaison Office on Thursday Island. Department of Foreign Affairs and Trade. Parliamentary Handbook of the Commonwealth of Australia, 20th ed, 1978, pp. Department of the Prime Minister and Cabinet.

Statement by the Prime Minister designate, The Hon John Howard MP”. Departmental secretaries and statutory office-holders, Canberra”. Diplomatic Appointment and Appointment of Secretaries of the Department of Defence and the Department of Foreign Affairs and Trade”. Mr Peter N Varghese AO – Biographical details”. Frances Adamson appointed as DFAT’s first female secretary”.

Frances Adamson becomes Department of Foreign Affairs and Trade’s first female secretary”. This page was last edited on 3 April 2018, at 16:25. For detailed information please read our guidance notes. The Australian Government has released new guidance clarifying that foreign investors can only acquire agricultural land where there has been an open and transparent sale process. Monetary thresholds for foreign investors were indexed on 1 January 2018. The Treasurer has released the second report of the Register of Foreign Ownership of Agricultural Land. FIRB Chairman David Irvine AO provided an insight into the role of agriculture and foreign investment in Australia’s economy, and the FIRB’s role in facilitating this investment.

0 threshold applying to Foreign Government investors. Section 12 of the Regulation defines an Australian entity or Australian business to be an agribusiness when the following two circumstances are met. 25 per cent of the total earnings for the entity. For an Australian business, the value of the assets of the business used in carrying on an agribusiness exceeds 25 per cent of the value of the total assets of the business. All acquisitions of interests in agricultural land by foreign persons regardless of whether they require approval and regardless of value must be notified to the Australian Taxation Office Register of Foreign Ownership. Agricultural land is land in Australia that is used, or that could reasonably be used, for a primary production business.

This includes land which is partially used for a primary production business, or land where only part of the land could reasonably be used for a primary productions business. The thresholds for agricultural land do not apply to certain acquisitions of agricultural land by owners or operators of wind or solar power stations. Owners and operators of solar and wind power stations that acquire an interest in agricultural land on which there is a wind or solar power station, and their acquisition is for the sole purpose of operating a wind or solar power station on the land, can disregard that the land is agricultural land for the purposes of the Act. Please enable scripts and reload this page. Travel advice To help Australians avoid difficulties overseas, we maintain travel advisories for more than 170 destinations.