Tag: FIRB

Compliance levels low in bumper foreign investment year

Posted on   |  by Joseph Brookes
Treasury performed fewer audits of foreign investors last year, moving instead to using outside firms to check compliance with rules for high risk and high value investments. The audits...

Govt rejects call to tighten foreign investment conditions

Posted on   |  by Joseph Brookes
The federal government has formally rejected a recommendation to tighten the rules around foreign investments, despite a Senate committee hearing evidence voluntary undertakings are being flouted by overseas companies....

FIRB chair and former top spy David Irvine dies

Posted on   |  by Joseph Brookes
Former top intelligence official David Irvine has died aged 75 after a battle with illness. He was remembered Thursday as dedicated public servant that shaped foreign policy and the...

Foreign investment crackdown risks ‘strangling’ tech

Posted on   |  by Denham Sadler
Australian tech companies which receive any funding from overseas defence or national security agencies will be subject to the new national security test under new reforms which risk “strangling”...

‘Opaque’ FIRB delays Aussie GovTech deal

Posted on   |  by Joseph Brookes
Two Australian founded government technology companies have been acquired for an undisclosed amount by US firm Granicus, which plans to roll the software into a unified platform, as American...

Govt seeks foreign investment tech platform

Posted on   |  by Denham Sadler
The federal government has gone to the market for a tech provider to develop a new foreign investment IT platform to replace the existing system, which has “not kept...

Govt ‘dismissive’ of tech concerns on FIRB changes

Posted on   |  by Denham Sadler
The federal government was “dismissive” of concerns raised during consultations about the impact of reforms to Australia’s foreign investment laws on local tech companies, with these left unaddressed in...

FIRB changes to dampen foreign tech investment

Posted on   |  by Denham Sadler
New rules surrounding Australia’s foreign investment regime which passed Parliament last week may “dampen the enthusiasm” for investment in local tech companies, according to Australian Investment Council chief Yasser...

Foreign investment changes, despite tech concerns

Posted on   |  by Denham Sadler
Significant reforms to Australia’s foreign investment framework have sailed through parliament with bipartisan support, despite concerns from Labor and the tech sector that they will act as a disincentive...