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Extra time for foreign investors to register agricultural land

The ATO has advised that foreigners who own land in Australia now have until 29 February 2016 to come for-ward and register their agricultural land holdings.
All foreign individuals, companies and trustees are re-quired to notify the ATO if they:

  • have an existing interest in agricultural land
  • have a new interest in agricultural land
  • no longer have an interest in agricultural land

If agricultural land is purchased or the ownership of land is changed on or after 1 February 2016, the ATO must be notified within 30 days.

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