Foreign Acquisitions and Takeovers Fees Imposition Act 2015 (Cth)
This is a compilation of the
The notes at the end of this compilation
(the
The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register ( The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.
If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.
For more information about any editorial changes made in this compilation, see the endnotes.
If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.
If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.
Contents
This Act may be cited as the
Foreign Acquisitions and Takeovers Fees Imposition Act 2015 .
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
Sections 1 to 4 and anything in this Act not elsewhere covered by this table | The day this Act receives the Royal Assent. | 25 November 2015 |
Sections 5 to 13 | The later of:
However, the provisions do not commence at all if the event mentioned in paragraph (b) does not occur. | 1 December 2015 (paragraph (b) applies) |
Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.
(2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.
This Act extends to every external Territory.
(1) In this Act:
Foreign Acquisitions Act means theForeign Acquisitions and Takeovers Act 1975 .Foreign Acquisitions Regulation means theForeign Acquisitions and Takeovers Regulation 2015 .indexation factor has the meaning given by section 8.index number has the meaning given by section 9.quarter means a period of 3 months ending on 31 March, 30 June, 30 September or 31 December.this Act includes the regulations.(2) Subject to subsection (1), an expression used in this Act that is defined in the Foreign Acquisitions Act or regulations made for the purposes of that Act has the same meaning in this Act as it has in that Act or those regulations.
A fee payable under:
(a) Part 6 (fees in relation to actions); or
(b) Part 6A (vacancy fees for foreign acquisitions of residential land);
of the Foreign Acquisitions Act is imposed as a tax by this section.
(1) The amount of a fee imposed by section 5 is the amount worked out in accordance with regulations made for the purposes of this subsection.
(2) Without limiting subsection (1), the regulations may do one or more of the following:
(a) specify an amount or a method for determining an amount;
(b) specify different amounts or methods for:
(i) different kinds of fees; or
(ii) different kinds of persons liable to pay a kind of fee; or
(iii) different kinds of circumstances giving rise to the liability to pay a kind of fee;
(c) specify a nil amount, or a method resulting in a nil amount;
(d) specify a method for a kind of fee when such a fee is one of 2 or more fees payable in relation to a single agreement;
(e) specify a method for a kind of fee payable in relation to an action if that action is covered by more than one provision of the Foreign Acquisitions Act or Foreign Acquisitions Regulation (because the action is an action of more than one kind);
(f) specify a method for a kind of fee that:
(i) initially determines an amount; and
(ii) later determines a lower replacement amount (including a nil amount) if specified circumstances arise after the fee becomes payable.
Paragraphs (c) to (f) do not limit paragraph (b).
Note: A method for determining an amount could, for example, include:
(a) indexation; or
(b) providing for a lower amount if certain circumstances exist; or
(c) reducing the amount to nil if another person who is jointly and severally liable for the fee pays the fee.
Cap on the amount of a fee (3) The amount of a fee imposed by section 5 must not exceed $7,000,000.
(1) The amount referred to in subsection 6(3) is to be indexed on the first day of each financial year starting on or after 1 July 2024. The amount is indexed by multiplying it by its indexation factor.
(2) If after indexation the amount is not a multiple of $100, round down the indexed amount to the nearest multiple of $100.
(3) If the indexed amount worked out under subsection (1) for a financial year (the
current year ) (after any rounding under subsection (2)) is less than the indexed amount for the previous financial year, the indexed amount for the current year is the indexed amount for the previous financial year.
(1) The
indexation factor is:(2) Work out the indexation factor to 3 decimal places (rounding up if the fourth decimal place is 5 or more).
Example: If the factor is 1.102795, it would be rounded up to 1.103.
The
index number for a quarter is the All Groups Consumer Price Index number (being the weighted average of the 8 capital cities) first published by the Australian Statistician for the quarter.
The Governor‑General may make regulations prescribing matters:
(a) required or permitted by this Act to be prescribed by the regulations; or
(b) necessary or convenient to be prescribed for carrying out or giving effect to this Act.
The endnotes provide information about this compilation and the compiled law.
The following endnotes are included in every compilation:
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history
The abbreviation key sets out abbreviations that may be used in the endnotes.
Amending laws are annotated in the legislation history and amendment history.
The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.
The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.
The
If the compilation includes editorial changes, the endnotes include a brief outline of the changes in general terms. Full details of any changes can be obtained from the Office of Parliamentary Counsel.
A misdescribed amendment is an
amendment that does not accurately describe how an amendment is to be made. If,
despite the misdescription, the amendment can be given effect as intended, then
the misdescribed amendment can be incorporated through an editorial change made
under section 15V of the
If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and “(md not incorp)” is added to the amendment history.
ad = added or inserted | o = order(s) |
am = amended | Ord = Ordinance |
amdt = amendment | orig = original |
c = clause(s) | par = paragraph(s)/subparagraph(s) |
C[x] = Compilation No. x | /sub‑subparagraph(s) |
Ch = Chapter(s) | pres = present |
def = definition(s) | prev = previous |
Dict = Dictionary | (prev…) = previously |
disallowed = disallowed by Parliament | Pt = Part(s) |
Div = Division(s) | r = regulation(s)/rule(s) |
ed = editorial change | reloc = relocated |
exp = expires/expired or ceases/ceased to have | renum = renumbered |
effect | rep = repealed |
F = Federal Register of Legislation | rs = repealed and substituted |
gaz = gazette | s = section(s)/subsection(s) |
LA
= | Sch = Schedule(s) |
LIA
= | Sdiv = Subdivision(s) |
(md) = misdescribed amendment can be given | SLI = Select Legislative Instrument |
effect | SR = Statutory Rules |
(md not incorp) = misdescribed amendment | Sub‑Ch = Sub‑Chapter(s) |
cannot be given effect | SubPt = Subpart(s) |
mod = modified/modification | |
No. = Number(s) | commenced or to be commenced |
Foreign Acquisitions and Takeovers Fees Imposition Act 2015 | 152, 2015 | 25 Nov 2015 | s 5–13: 1 Dec 2015 (s 2(1) item 2) Remainder: 25 Nov 2015 (s 2(1) item 1) | |
Foreign Acquisitions and Takeovers Fees Imposition Amendment (Fee Streamlining and Other Measures) Act 2017 | 69, 2017 | 23 June 2017 | 24 June 2017 (s 2(1) item 1) | Sch 1 (items 12, 13) |
Foreign Acquisitions and Takeovers Fees Imposition Amendment (Vacancy Fees) Act 2017 | 127, 2017 | 30 Nov 2017 | 15 Dec 2017 (s 2(1) item 1) | — |
Foreign Acquisitions and Takeovers Fees Imposition Amendment (Near‑new Dwelling Interests) Act 2019 | 126, 2019 | 12 Dec 2019 | 13 Dec 2019 (s 2(1) item 1) | Sch 1 (items 5, 6) |
Foreign Acquisitions and Takeovers Fees Imposition Amendment Act 2020 | 115, 2020 | 10 Dec 2020 | 1 Jan 2021 (s 2(1) item 1) | Sch 1 (item 8) |
Foreign Acquisitions and Takeovers Fees Imposition Amendment Act 2022 | 73, 2022 | 5 Dec 2022 | 6 Dec 2022 (s 2(1) item 1) | — |
Foreign Acquisitions and Takeovers Fees Imposition Amendment Act 2024 | 17, 2024 | 17, 2024 | Sch 1 (items 1–4): 9 Apr 2024 (s 2(1) item 1) | Sch 1 (item 4) |
s 4............................................. | am No 127, 2017; No 115, 2020 |
Part 2......................................... | rs No 115, 2020 |
Division 1 heading...................... | ad No 127, 2017 |
rep No 115, 2020 | |
s 5............................................. | am No 127, 2017 |
rs No 115, 2020 | |
Division 2 heading...................... | ad No 127, 2017 |
rep No 115, 2020 | |
s 6............................................. | am No 69, 2017; No 126, 2019 |
rs No 115, 2020 | |
am No 73, 2022; No 17, 2024 | |
s 7............................................. | rs No 69, 2017; No 115, 2020 |
am No 73, 2022; No 17, 2024 | |
s 8............................................. | am No 69, 2017 |
rs No 115, 2020 | |
am No 73, 2022; No 17, 2024 | |
s 9............................................. | am No 127, 2017 |
rs No 115, 2020 | |
s 10............................................ | am No 69, 2017 |
rep No 115, 2020 | |
s 11............................................ | am No 69, 2017; No 127, 2017 |
rep No 115, 2020 | |
s 12............................................ | am No 69, 2017; No 127, 2017 |
rep No 115, 2020 | |
Division 3.................................. | ad No 127, 2017 |
rep No 115, 2020 | |
s 12A......................................... | ad No 127, 2017 |
rep No 115, 2020 |
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