top of page

RECENT POSTS

Australian Government Forces Foreigners to Sell Property

The Australian government has announced the forced sale of another 16 properties purchased illegally by foreign buyers in breach of the FIRB regulations. Federal Treasurer Scott Morrison has ordered the sale of $92 million worth of Australian property in the Governments crackdown in foreign investment in housing. Foreign investors that have fraudulently purchased Australian real estate face criminal prosecution and civil penalty orders. In addition to being forced to sell the property immediately without being able to retain any profits, individual property investors face a fine of $135,000 and/or 3 years imprisonment. A company will be forced to handover $675,000. Australia Government FIRB law demands foreign buyers seek approval from the Foreign Investment Review Board (FIRB) before purchasing property in Australia.

ARCHIVE POSTS

mortgage & finance soutions 1st city fund & protect

E | info@1stcity.com.au

A | Head Office - Suite 2, Level 3, 53 Cross St Double Bay NSW 2028

​

ENGAGE WITH US:

  • Facebook - White Circle
  • LinkedIn - White Circle

© 2019 by 1ST CITY Fund+Protect, Bluejay Partners Pty Ltd ACN 614 196 468

Constantia Finance Partners Pty Ltd ABN 32605 334 790 Australian Credit License 485034

Thankyou. Your message has been sent.

bottom of page