Foreign Owned Water’s New ATO Requirements

By | 19/06/2017

Water rights owned by foreign persons need to be registered with the ATO soon. This includes foreign corporations and governments. These changes were introduced with the Register of Foreign Ownership of Water or Agricultural Land Act 2015.

To those affected, they need to register their ownership with the ATO between 1 July and 30 November this year.

Registration includes those rights held within an IIO, for example, Murrumbidgee Irrigation. However, stock and domestic rights and a few other types don’t need to be registered.

For further information, the ATO has a webpage with the details.

https://www.ato.gov.au/General/Foreign-investment-in-Australia/Water-register/?=redirected

At the bottom of the page you can find links to the webminars they are holding.

 

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.