Original article by Joe Kelly
The Australian – Page: 6 : 10-Jun-16

The Australian Labor Party’s proposal to increase the threshold for offshore investment in agricultural land has been criticised by Treasurer Scott Morrison. Labor would require purchases of farmland valued at $A50m or more to be approved by the Foreign Investment Review Board, but Morrison contends that offshore buyers would seek to avoid this by acquiring land for $A49m. Agriculture Minister Barnaby Joyce has also criticised Labor’s proposal to lift the threshold for foreign investment in the agribusiness sector to $A1bn.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, AUSTRALIA. DEPT OF AGRICULTURE AND WATER RESOURCES, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY