{"id":200395,"date":"2018-02-01T21:30:35","date_gmt":"2018-02-01T11:30:35","guid":{"rendered":"http:\/\/southburnett.com.au\/news2\/?p=200395"},"modified":"2020-09-25T12:23:11","modified_gmt":"2020-09-25T02:23:11","slug":"aussies-to-get-first-chance-at-farm-sales","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2018\/02\/01\/aussies-to-get-first-chance-at-farm-sales\/","title":{"rendered":"Aussies To Get First Chance At Farm Sales"},"content":{"rendered":"
\"\"<\/a>
Agriculture Minister and Member for Maranoa David Littleproud<\/figcaption><\/figure>\n

February 1, 2018<\/strong><\/p>\n

Farm land up for sale will now have to be marketed widely to potential Australians bidders for a minimum of 30 days.<\/p>\n

And Australians must be given an opportunity to participate in the sale process.<\/p>\n

Agriculture Minister and Member for Maranoa David Littleproud said said he was excited by the announcement on Thursday by Treasurer Scott Morrison.<\/p>\n

\u201cThe Coalition Government understands the Australian community must have confidence that foreign investment will bring real benefits. This includes ensuring that Australians have adequate opportunity to invest in Australian land,\u201d Mr Littleproud said.<\/p>\n

\u201cOur agricultural land and water resources are arguably our nation\u2019s most valuable natural assets and I know there have been concerns around the ability of Australians to participate in the sale process of that land, including approval of the sale of S. Kidman & Co Limited.”<\/p>\n

Mr Littleproud said the Federal Government welcomed foreign investment in Australian agricultural land, if it was in the national interest.<\/strong><\/p>\n

\u201cThat\u2019s why we have brought in a series of checks and balances for foreign investment. They facilitate investment while making sure Australia’s national interest is protected.<\/p>\n

\u201cGenuine above-board foreign investors have not been concerned by the government\u2019s measures to improve oversight and transparency.”<\/p>\n

The “screening threshold” for foreign purchases of agricultural land has been lowered from $252 million to $15 million, meaning more sales will be scrutinised.<\/p>\n

The new Foreign Investment rules are:<\/strong><\/p>\n

    \n
  • Subject to exceptional circumstances, foreign investors must demonstrate that agricultural land they intend to acquire has been part of a public sales process and marketed widely to potential Australian bidders for a minimum of 30 days, and Australian bidders have had an opportunity to participate in the sale process.<\/li>\n<\/ul>\n
      \n
    • All acquisitions of agricultural land by foreign investors for residential development will also be subject to standard development conditions requiring development to commence within a five-year period to prevent land banking. This condition already applies to acquisitions of vacant land.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

      Farm land up for sale will now have to be marketed widely to potential Australians bidders for a minimum of 30 days.<\/p>\n","protected":false},"author":20,"featured_media":276803,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3,36],"tags":[1134],"yoast_head":"\nAussies To Get First Chance At Farm Sales<\/title>\n<meta name=\"description\" content=\"Farm land up for sale will now have to be marketed widely to potential Australians bidders for a minimum of 30 days.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/southburnett.com.au\/news2\/2018\/02\/01\/aussies-to-get-first-chance-at-farm-sales\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aussies To Get First Chance At Farm Sales\" \/>\n<meta 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