{"id":"F2024L00811","name":"Foreign Investment Reform (Protecting Australia’s National Security) (Transitional Provisions—Residential Land) Rules 2024","slug":"foreign-investment-reform-protecting-australia-s-national-security-transitional-provisions-residenti","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":442476,"registerId":"F2024L00811-fast-fetch-1775957464427","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Foreign Investment Reform (Protecting Australia’s National Security) (Transitional Provisions—Residential Land) Rules 2024","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\ntitle: Foreign Investment Reform (Protecting Australia's National Security) (Transitional) Rules 2023 v1\n---\n\n\n\n \n\nForeign Investment Reform (Protecting Australia’s National Security) (Transitional Provisions—Residential Land) Rules 2024\n\nI, Jim Chalmers, Treasurer, make the following rules.\n\nDated 27 June 2024\n\n \n\nDr Jim Chalmers\n\nTreasurer\n\n \n\n \n\n \n\n \n\nContents\n\nPart 1—Preliminary\n\n1 Name\n\n2 Commencement\n\n3 Authority\n\n4 Definitions\n\nPart 2—Transitional rules relating to the Register of Foreign Ownership of Australian Assets\n\n5 Information obtained before the Register commencement day\n\n6 Registered circumstance\n\n7 Registrar to give notice of registered circumstance\n\nPart 1—Preliminary\n\n \n\n1 Name\n\n This instrument is the Foreign Investment Reform (Protecting Australia’s National Security) (Transitional Provisions—Residential Land) Rules 2024.\n\n2 Commencement\n\n (1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.\n\n \n\n- Commencement information\n- Column 1 Column 2 Column 3\n- Provisions Commencement Date/Details\n- 1. The whole of this instrument Immediately after this instrument is registered.\n\n\nNote: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.\n\n (2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.\n\n3 Authority\n\n This instrument is made under the Foreign Investment Reform (Protecting Australia’s National Security) Act 2020.\n\nNote: Item 24 of Schedule 3 to the Foreign Investment Reform (Protecting Australia’s National Security) Act 2020 provides that the Minister may, by legislative instrument, make certain rules of a transitional nature.\n\n4 Definitions\n\nNote: Expressions have the same meaning in this instrument as in Part 4 of Schedule 3 to the Foreign Investment Reform (Protecting Australia’s National Security) Act 2020 as in force from time to time—see paragraph 13(1)(b) of the Legislation Act 2003. For example, the Act means the Foreign Acquisitions and Takeovers Act 1975.\n\n In this instrument:\n\nexemption certificate has the meaning given by the Act.\n\nforeign person has the meaning given by the Act.\n\ninterest, in relation to an interest in Australian land (however described), has the meaning given by the Act.\n\nno objection notification has the meaning given by the Act.\n\nnotice imposing conditions has the meaning given by the Act.\n\nRegister has the meaning given by the Act.\n\nRegister commencement day has the meaning given by the Act.\n\nRegistrar has the meaning given by the Act.\n\nresidential land has the meaning given by the Act.\n\ntaxation officer has the meaning given by the Income Tax Assessment Act 1997.\n\nPart 2—Transitional rules relating to the Register of Foreign Ownership of Australian Assets\n\n5 Information obtained before the Register commencement day\n\n (1) For the purposes of paragraph 24(1)(b) of Schedule 3 to the Foreign Investment Reform (Protecting Australia’s National Security) Act 2020, the Commissioner of Taxation must cause the information covered by subsection (2) to be given to the Registrar on or before 1 July 2025.\n\nNote: The Registrar may add to the Register the information the Registrar obtains under subsection (1)—see section 130U of the Act.\n\n (2) Information is covered by this subsection if:\n\n (a) the information relates to an interest in residential land that was acquired by a foreign person between 1 July 2016 and the day before the Register commencement day (other than an interest that is taken to have been acquired only because of section 15 of the Act); and\n\n (b) the information was obtained between 1 July 2016 and the day before the Register commencement day by a taxation officer (including as a delegate or subdelegate of the Treasurer) in accordance with the Act (including any type of instrument, notice, certificate, or condition, made or issued under the Act).\n\n6 Registered circumstance\n\n (1) For the purposes of paragraph 24(1)(c) of Schedule 3 to the Foreign Investment Reform (Protecting Australia’s National Security) Act 2020, a registered circumstance is to be taken to exist for the purposes of the Act in relation to a foreign person in each of the circumstances set out in an item of the following table:\n\n \n\n| Item | Where: | But only if: |\n| --- | --- | --- |\n| 1 | Both of the following apply:
(a) at any time before the Register commencement day, a foreign person acquired an interest in residential land;
(b) at any time before 30 June 2024, one of the following was issued to the person in relation to the acquisition:
(i) a no objection notification;
(ii) a notice imposing conditions;
(iii) an exemption certificate. | All of the following apply:
(a) the notification, notice or certificate imposed a condition that the foreign person notify (however described) a taxation officer (however described) of the acquisition;
(b) the person did not notify a taxation officer of the acquisition before 30 June 2024;
(c) at the start of the Register commencement day, the foreign person:
(i) was still a foreign person; and
(ii) still held an interest the residential land. |\n| 2 | At any time before the Register commencement day, a foreign person:
(a) acquired an interest in residential land; and
(b) was required under section 81 of the Act to give a notice to the Treasurer before making the acquisition. | All of the following apply:
(a) the foreign person did not give notice to the Treasurer of the acquisition before 30 June 2024;
(b) a no objection notification was not given in relation to the acquisition before 30 June 2024;
(c) at the start of the Register commencement day, the foreign person:
(i) was still a foreign person; and
(ii) still held an interest the residential land. |\n| 3 | The Commissioner of Taxation is required to cause information relating to an acquisition of an interest in residential land by a foreign person under subsection 5(1) of this instrument be given to the Registrar. | Both of the following apply:
(a) a registered circumstance is not otherwise taken to exist, or to have ever existed, in relation to the foreign person in relation to the acquisition;
(b) at the start of the Register commencement day, the foreign person:
(i) was still a foreign person; and
(ii) still held an interest the residential land. |\n\n\n \n\n (2) A registered circumstance, that is taken to exist for the purposes of the Act under subsection (1), begins to apply on 30 June 2024.\n\n (3) A registered circumstance, that is taken to exist for the purposes of the Act under subsection (1), ceases to apply immediately after it begins to apply if:\n\n (a) at the time it begins to apply, either of the following apply:\n\n (i) the foreign person was no longer a foreign person;\n\n (ii) the foreign person no longer held an interest in the residential land; or\n\n (b) just before 1 January 2026, the Registrar has not given the foreign person a written notice under subsection 7(1).\n\n (4) A registered circumstance, that is taken to exist for the purposes of the Act under subsection (1), ceases to apply if the foreign person stops holding an interest in the residential land after 30 June 2024.\n\n7 Registrar to give notice of registered circumstance\n\n (1) For the purposes of paragraph 24(1)(e) of Schedule 3 to the Foreign Investment Reform (Protecting Australia’s National Security) Act 2020, the Registrar must, on or before 31 December 2025, give a foreign person written notice of:\n\n (a) each registered circumstance that arises in relation to them under section 6; and\n\n (b) the obligations that are imposed, or that may be imposed, on them in accordance with the Act, in relation to each registered circumstance.\n\n (2) Subsection (1) does not apply in relation to a registered circumstance that ceased to apply, immediately after it began to apply, because of paragraph 6(3)(a).\n","sortOrder":0}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"kimi_summary":{"content_quality":"ok","complexity_score":4,"scope_assessment":{"changed":false,"description":"The legislation remains tightly focused on its original transitional purpose: facilitating the transfer of pre-existing foreign residential land ownership data to the new Register and establishing temporary compliance mechanisms for historical acquisitions. It does not expand beyond the transitional provisions contemplated by Item 24 of Schedule 3 to the enabling Act."},"complexity_factors":["Multiple cross-references to primary legislation (Foreign Investment Reform (Protecting Australia's National Security) Act 2020 and Foreign Acquisitions and Takeovers Act 1975) requiring readers to look up defined terms externally","Nested conditional logic in section 6 with three distinct table-based scenarios, each containing multiple sub-conditions ('But only if' clauses)","Temporal complexity with multiple fixed dates (1 July 2016, 30 June 2024, Register commencement day, 1 January 2026) and conditional commencement/cessation rules","Circular dependency between sections 5 and 6 (section 6 Item 3 references section 5, while section 5 feeds into the Register which triggers section 6)","Incorporation of definitions by reference from multiple Acts rather than standalone definitions"],"plain_english_summary":"This bill creates temporary rules to seed a new national register of foreign ownership of Australian residential property by requiring the ATO to transfer historical purchase data and by treating certain past non‑compliant foreign buyers as having a “registered circumstance.” It affects foreign persons who bought residential land from 1 July 2016 until the Register starts, the ATO (data handover), and the Registrar (must notify owners). It ensures historical non‑reporting is captured and gives a limited window to regularise before the rules lapse."},"flash_summary":{"complexity_score":6,"scope_assessment":{"changed":true,"description":"This transitional instrument extends the Register’s practical reach to past residential land acquisitions: it requires transfer of tax‑derived information about acquisitions from 1 July 2016 to the Registrar (s5) and legally treats certain historic non‑notified acquisitions as 'registered circumstances' effective 30 June 2024 (s6). It also imposes a statutory obligation on the Registrar to notify affected foreign persons by 31 December 2025 (s7). These steps alter how and when prior acquisitions are captured for the Register compared to a purely forward‑looking operation of the Act."},"complexity_factors":["Multiple cross-references to the Act and Schedule definitions (see s4), requiring consultation of the principal Act to interpret key terms (eg. 'foreign person', 'Register').","Retrospective coverage of acquisitions back to 1 July 2016 and time‑dependent conditions for inclusion (s5(2); s6 table), increasing factual inquiry to determine applicability.","Layered conditional 'registered circumstance' rules with start dates, cessation triggers, and exceptions (s6(1) table; s6(2)–(4)).","Data‑sharing mandate from the Commissioner of Taxation to the Registrar with a fixed deadline (s5(1)), creating administrative sequencing and reliance on tax records (s5(2)).","Registrar’s duty to notify affected persons by specified deadline (s7(1)) and a separate cessation condition tied to that notice (s6(3)(b)), producing interlocking timing risks.","Delegation and agent language for taxation officers and potential interaction with prior instruments (s5(2)), widening sources and forms of covered information.","Short statutory deadlines and multiple cut‑off dates (30 June 2024, Register commencement day, 1 July 2025, 31 Dec 2025) create implementation and compliance timing complexity (s2, s5(1), s6(2), s7(1))."],"plain_english_summary":"These Rules set transitional steps for the Register of Foreign Ownership of Australian Assets for residential land. They require the Commissioner of Taxation to provide past tax‑derived data about foreign purchases (s5) and treat some historic non‑notified acquisitions as “registered circumstances” from 30 June 2024 (s6), triggering Registrar notification duties (s7).\n\nAdministrative effort sits with the Commissioner and Registrar (s5, s7); affected foreign owners who still hold the land face recordation and possible compliance obligations."}},"importantCases":[],"_links":{"self":"/api/acts/foreign-investment-reform-protecting-australia-s-national-security-transitional-provisions-residenti","history":"/api/acts/foreign-investment-reform-protecting-australia-s-national-security-transitional-provisions-residenti/history","analysis":"/api/acts/foreign-investment-reform-protecting-australia-s-national-security-transitional-provisions-residenti/analysis","conflicts":"/api/acts/foreign-investment-reform-protecting-australia-s-national-security-transitional-provisions-residenti/conflicts","importantCases":"/api/acts/foreign-investment-reform-protecting-australia-s-national-security-transitional-provisions-residenti/important-cases","documents":"/api/acts/foreign-investment-reform-protecting-australia-s-national-security-transitional-provisions-residenti/documents"}}