It's not legal, and it's quite disgusting that it's done so blatantly.
The FIRB are tasked with restricting foreign investment to new builds only. Purchasing for a dependant who will be studying in Australia is OK but the property must be sold on once they return home.
Regarding Australian based trusts: "Australian incorporated companies or trusts where 15 per cent or more of the shares or units are beneficially held by a foreign person are themselves considered to be 'foreign' and require approval [by the FIRB]".
The rules are in place to stop this kind of thing but our Government is incompetent. It looks like foreigner's are knowingly flaunting our laws by purchasing through their Australian based relatives and the RE industry is loving it.
No comments yet from WA's wonderful Minister for Housing Bill Marmion.
That's a quick way for the government to make a buck then isn't it.
Have the FIRB review all these purchases and where they are found non-compliant seize the asset and auction it off for the public coffer in the same way seized criminal assets are dealt with.
That's a quick way for the government to make a buck then isn't it.
Have the FIRB review all these purchases and where they are found non-compliant seize the asset and auction it off for the public coffer in the same way seized criminal assets are dealt with.
Yep. It doesn't end there. If you park your car in a non parking area, they can also seize your car and auction it off for the public coffers as well.
Heaven forbid if you ignore a police's instructions to stop loitering and move on because (you guessed it), they can auction off your body for the public coffers as well.
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
What we need is more efficient planning regualtion so that a 200 m block out in the sticks dosent cost a young couple 200k.
Define sticks
You can buy a 465m2 block of land ready to build on for $158k 3klm from Ipswich cbd and rail link and 30klm from Brisbane CBD if you really must work there. If you worked in the Ipswich CBD you could almost walk to work.
Ignore posts by The Whole Truth · View Post · End Ignoring The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
These guys would certainly want a white Australia policy implemented.
Red neck ku klux klan sentiments .. oz version......
We need foreign imvestment whether you like It or not Tough luck .
I would be more worried about the middle Easters...
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$ It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do. Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
I dont understand what the problem is? we actually still produce a product that the international community actually want (housing) we can always produce more houses for everyone.
Tend ta feel a bit the same. There's some pretty shitty countries in the world that don't have especially great track records on lots of things. So I can understand cashed up Asians wanting to buy a potential bolthole in Oz.
'Course property is supposed ta be a long term investment I'm told. So to discourage the out and out speculator types I'd just maybe say to them "Yep, you can buy - But you can't sell for 30 years minimum. And if you or yours aren't actually living in it, or it ain't rented out, then you can pay the equivalent of the rent in tax!"
Kind'a begs the question of "What about the poor in those countries what can't afford ta buy a bolthole here?" I guess - But I suppose that deep down I really am just selfish enough and pragmatic enough ta sort'a be able to live with the attitude that there's just too many of the buggers ta really help ... Though if we could figure out some way ta pump lots of artesian water, build lots'a dams without screwing the water table 'n develop our inland quite considerably more, I wouldn't be averse to bringing in a bunch more of the poorer types too.
Blondie girl
30 Aug 2013, 12:52 PM
These guys would certainly want a white Australia policy implemented.
We had a White Australia Policy for years - Mix that in with giving the buggers the ability ta vote themselves all sorts of guv benefits, and we've now got a bunch of lower socio-economic whites here. I don't personally have any issues with having a bit more balanced approach - 'N ending up with a bunch of lower socio-economic Asians and Blacks chucked into the mix.
BeN
27 Aug 2013, 08:23 PM
A pity the world will never see the full expression of Australian culture.
What Aussie culture mate? That died in the arse about the time me younger bro started watching Sesame Street.
I dont understand what the problem is? we actually still produce a product that the international community actually want (housing) we can always produce more houses for everyone. What we need is more efficient planning regualtion so that a 200 m block out in the sticks dosent cost a young couple 200k.
No problem at all if you don't give a rats about future generations of Australians. Housing is a product, land is not. Many foreigners buying our land are from countries where we do not have reciprocal rights i.e we cannot buy their land freehold. It is also impossible to guage the level of foriegn government involvement - a high level of foriegn government involvement would be a serious compromise of Australias soveriegnty. I dispute your claim " we can always produce more houses for everyone". Australia is mostly desert and we cannot accomodate every third worlder who thinks they might have an easier go of it here without destroying ourselves. Why is it OK in your mind for young Australians to be peripheralised in their own country?
I dispute your claim " we can always produce more houses for everyone". Australia is mostly desert and we cannot accomodate every third worlder who thinks they might have an easier go of it here without destroying ourselves. Why is it OK in your mind for young Australians to be peripheralised in their own country?
Jump in a car and go for a drive from melbourne to QLD and see if you still feel the same way about our limited availability of arable land.
in theory I can see your point and agree with some of what you have said but we are realistically no where near 'being full' assuming the correct infrastructure was set into place.
Jump in a car and go for a drive from melbourne to QLD and see if you still feel the same way about our limited availability of arable land.
in theory I can see your point and agree with some of what you have said but we are realistically no where near 'being full' assuming the correct infrastructure was set into place.
The infrastructure isn't there, and we're too retarded to make it.
Therefore, if we're going to have this disgusting mass immigration and displacement of Australians, we should solely be importing tradie immigrants in order to do this.
But if we don't eventually get some markets up and running to replace housing and mining, then we'll end up a third world, with a lot more mouths to feed.
I think it's a very dangerous way to go, I call it "grow and hope".
stinkbug omosessuale Frank Castle is a liar and a criminal. He will often deliberately take people out of context and use straw man arguments. Frank finally and unintentionally gives it up and admits he got where he is, primarily via dumb luck! See here Property will be 50-70% off by 2016.
The infrastructure isn't there, and we're too retarded to make it.
Therefore, if we're going to have this disgusting mass immigration and displacement of Australians, we should solely be importing tradie immigrants in order to do this.
But if we don't eventually get some markets up and running to replace housing and mining, then we'll end up a third world, with a lot more mouths to feed.
I think it's a very dangerous way to go, I call it "grow and hope".
all good points but what if we had a 'perfect' plan?
Zaph made a good point the other day about how a rail project could help create employment.
We need to keep at least some shit in house going forward - and we need to accept that the AUD will never be able to compete with the RMB.
i agree that your 'grow and hope' is the more likely outcome though.. what can we do?
Sheepdog
30 Aug 2013, 09:13 PM
But it isnt Mel. The gov is more than happy to take the cash but not stump up for required infrastructure.
Sheepdog i think we need Rudd for at least another term TBH
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