Offshore investors have baulked at Australian property following the Foreign Investment Review Board’s inquiry into non-resident investment, according to national law firm Maddocks.
FIRB recommendations were released in November, 2014 and included new administration fees and tougher enforcement, including criminal penalties, for rule breaches.
…”This is a message from government that foreign investment is discouraged,” he said.
Poppycock! The changes are a message that the illegal reaming of Australian youth is discouraged.
For the rentiers, here is a quick primer on how to recognise a “child”:
- Australians that are under 18 years of age, though in the case of Australian realty it’s more like under 40;
- fondness for treats;
- generally much smaller than you, and
- easy to push around but should be protected.
For example:
