“The arrival of the Chinese as serious buyers into Australian agriculture coincides with the Abbott government dramatically raising the scrutiny of their farmland purchases. It has slashed the threshold for Foreign Investment Review Board screening of agricultural land acquisitions by Chinese from $248m to $15m, which has focused new attention even on deals at the modest end of this space. The government has also tasked the tax office with collecting all data on foreign ownership of farmland, with a view to compiling a register next year. These moves come well on the heels of Europeans, Americans, Japanese and Koreans acquiring great swaths of Australian agriculture.”
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