Original article by Phillip Coorey, Matthew Cranston
The Australian Financial Review – Page: 1 & 8 : 26-Feb-15

The Australian Government’s proposals to crack down on foreign investors in the residential property market has the support of Master Builders Australia CEO Wilhelm Harnisch. However, buyers advocate David Morrell says the proposed application fees should be higher, although the Real Estate Institute of Australia believes that the fees are too high. The Government plans to introduce a fee of up to one per cent of the value of new or established residential properties bought by foreign investors

CORPORATES
MASTER BUILDERS AUSTRALIA INCORPORATED, THE REAL ESTATE INSTITUTE OF AUSTRALIA LIMITED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, RAY WHITE REAL ESTATE, AUSTRALIAN TAXATION OFFICE, NEW SOUTH WALES. THE TREASURY, PROPERTY COUNCIL OF AUSTRALIA LIMITED, CBRE PTY LTD