Can Canadians buy agricultural land in Aussie?

5POSTS

6 years ago

Can a Canadian buy agricultural land in Aussie? Who has no residency or citizenship? I just want to buy like one acre. Is it a yes or no? What is the foreign investment board how do they determine? Does it take long and how do I find agents to help me with this purchase. I spoke to some and they seem not interested and want to push condos and houses on me. Anyone know who's the best company or agent to help me purchase agricultural land in Tasmania.

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Normundo68 Member

16POSTS

6 years ago

Have a read through https://www.homeloanexperts.com.au/comm … -approval/

Yes you can buy but its subject to approval by the FIRB. As far as i know, there are no restrictions to buy a property where an Australian has not owned previously thus the push for condos. If it was owned by an Australian then the foreign buyer must get approval to purchase. This is in place to keep prices from becoming inflated putting nationals out of the market.

1 acre is not alot to purchase and not worth selling hence no on interested. To make it worth your while you would need to buy
larger plots. Its similar to you wanting to be
1 acre lot in rural Saskatchewan.

If you do own property and it generates income, then you will be subject to Canadian and Australian taxation. When you offload the property there are additional taxes and levies to be paid considering you are a foreign buyer. Being that you are Canadian it would be best to invest within Canada due to convenience. Feel free to ask more questions. I am a Canadian with Australian Residency living in Adelaide and actually purchased a property.

Good luck

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