Application fees will be introduced for overseas buyers requiring Foreign Investment Review Board (FIRB) approval from 1 December 2015 as detailed below:
Type of application
Application Fee
Residential property
(vacant or developed) and
*Agricultural land
If the consideration for the acquisition is
$1 million or less – $5,000
If the consideration for the acquisition is more than $1 million – $10,000, with a $10,000 incremental fee per additional $1 million
Application fees for agricultural land are capped at $100,000.
Vacant commercial land
(excluding residential land)
$10,000
*Developed commercial real estate
$25,000
If you are from overseas and have been looking at purchasing land in Australia act now to save on this application fee.
Feel free to contact me further information.
Kind regards,
Martin Hadodo
Manager – Land Sales & Marketing
Mobile 0407 945 834
email sales@rnoble.com.au