CANBERRA, ACT, April 10 -- The Treasurer of Australia issued the following media release:
Today the Albanese Government is releasing draft legislation to strengthen the foreign resident capital gains tax (CGT) regime and provide certainty for investors.
These reforms will ensure foreign residents pay a fair share of tax in Australia while providing generous concessions for investments in renewable energy.
Australia's land and natural resources belong to all Australians.
These reforms, first announced in the 2024-25 Budget, address an area of longstanding uncertainty by confirming that CGT applies to foreign investors selling assets with a close economic connection to Australian land and our natural resources.
At the same time, the Gove...