Reports of registrations of foreign ownership released – water entitlements and agricultural land
The Report of registrations of foreign ownership of water entitlements and the Report of registrations of foreign ownership of agricultural land, both as at 30 June 2023, have now been published: Reports and publications | Foreign investment in Australia.
The Australian Taxation Office has previously conducted stocktakes of both water entitlements and agricultural land held by foreign persons. These stocktakes, together with ongoing registration requirements, provide a comprehensive overview of all foreign holdings as at 30 June 2023. New data from the reports show:
–???? The estimated proportion of agricultural land with a level of foreign ownership at 30 June 2023 is 12.9%, compared to 12.3% in 2022. The total area of agricultural land in Australia with a level of foreign ownership has decreased to just under 48 million hectares at 30 June 2023, due to a decreased proportion of land used in Australia for agricultural purposes, as reported by the ABS.
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–???? The total volume of foreign held water entitlements in Australia with a level of foreign ownership has increased to 4,775 GL at 30 June 2023, and the estimated proportion of Australian water entitlements with a level of foreign ownership as at 30 June 2023 is 11.8%, compared to 11.3% in 2022.? The estimated proportion of water entitlements with a level of foreign ownership in the Murray-Darling Basin (MDB), is 12.6% (2,533 GL) at 30 June 2023.
The publication of this data provides transparency over foreign ownership for the government and community.
These are the final reports published in this format, following the expansion into the Register of Foreign Ownership of Australian Assets which commenced on 1 July 2023, replacing the existing foreign investment registers for water interests, agricultural and residential land, with expanded assets to be registered. The first annual report of the Register of Foreign Ownership of Australian Assets will be for the period ending 30 June 2024. It is important that foreign investors keep their records up to date to assist in maintaining integrity and accuracy of the data on the Register.