Foreign Investment

The aftermath of both Parliament's investigation of foreign investment into Australia's property network, and their subsequent recommendations, has split the industry as to whether their findings are not only factual, but detrimental.

Australian Parliament's investigation into foreign investment was arduous and revealed some shadows into the foreign investment industry. Following these realisations, 12 recommendations were put forward to help establish a more transparent insight into the market.

Of the 12 recommendations, one has seemingly attracted a lot of attention from industry insiders: that recommendation stated that heavy penalties would apply to third-parties who help off-shore buyers to breach Australian foreign investment rules and regulations. 

Whilst some asserted that these recommendations were "absurd" and some refused to liken the act to "trafficking heroin", the general consensus was that these recommendations could be detrimental to the Australian economy as deterring foreign investment would repel investors from other market areas. 

However, Commsec's Craig James, attached positivity to the recommendations, highlighting that this enquiry and the potential reforms would put a truthful spot-light on the level to which Australia relies on foreign investment.