The FIRB Act and regulations: which laws apply to foreign home buyers?

The laws at a glance

Treasury's laws page also lists the Regulatory Powers (Standard Provisions) Act 2014. Treasury's page spells the fees instrument "Regulation 2020", while the Federal Register title is "Regulations 2020".

What the Act does

The Act is where the core obligation sits. The Act defines significant actions for land in section 43 and notifiable actions in section 47, and the threshold test for land is in section 52. A foreign person must not take a notifiable action until they have given notice and the waiting period has passed.

Other parts of the Act matter to a buyer:

• What counts as an interest. Section 12 covers a legal or equitable interest in land, but leaves out most leases. A lease or licence that is reasonably likely to run longer than five years, including renewals, counts. Under section 15, entering an agreement to acquire an interest counts as acquiring it. Where the agreement is conditional on foreign investment approval, Treasury's guidance says the action is taken only when the agreement becomes binding.
• The Treasurer's powers. The Act's outline says the Treasurer can decide the Commonwealth has no objection, impose conditions, prohibit the action, or require it to be undone.
• Time limits. Section 77 sets the time limits for decisions, and Treasury's guidance says the Treasurer has 30 days to consider an application. A no objection notification must then be given within 10 days after the decision (sections 74 and 75). The clock starts after the correct fee is paid.
• Offences and penalties. Part 5 has offences and civil penalties. Section 94 stops a foreign person taking a notifiable residential land acquisition without giving notice. The maximum civil penalty is the greatest of double the capital gain, 50% of the consideration, or 50% of the market value. The penalties page covers consequences in more detail.
• Fees and the Register. Part 6 sets when fees are payable, and section 114 requires fees to be paid before the Treasurer exercises certain powers, which is why the decision period only starts once the correct fee is paid. Part 6A covers vacancy fees and Part 7A the Register of Foreign Ownership of Australian Assets.

What the Regulation does

The Regulation supplies the detail the Act leaves open. Four provisions come up most for home buyers:

1. No threshold for homes. Section 52 ("Land") sets the thresholds for land, and Treasury's table shows residential land at $0 or more for all investors. That is why price does not decide whether a home needs approval (see when approval is required).
2. Exemptions for people with a close connection. Section 35 covers Australian citizens not ordinarily resident in Australia. Section 38 covers permanent visa holders, special category visa holders, and a person buying as joint tenants with a spouse or de facto partner who is a citizen or holder of one of those visas. Section 38 also covers timeshare interests of no more than four weeks a year.
3. Exemption certificates. Section 43B provides certificates for residential land other than established dwellings, and section 43A covers near-new dwelling interests. See exemption certificates.
4. Vacancy fee exemptions. Division 4A, starting at section 43C, deals with exemptions such as being residentially occupied. See the vacancy fee page.

The fees laws

The Fees Imposition Act imposes the fees payable under Parts 6 and 6A of the Act as a tax. Amounts are worked out under the regulations, and the Fees Imposition Act itself caps a single fee at $7 million (section 6), a cap that is indexed each financial year from 1 July 2024 (section 7). The maximums that apply in practice are lower: Treasury's fees guidance note for 2026-27 gives $1,245,500 for most notifiable actions and $3,736,500 for established dwellings. The amounts for 2026-27 are in Treasury's Schedule of Fees, and the fees page has them. In April 2024 an amending Act tripled fees for established dwellings and doubled vacancy fees for vacancy years starting on or after 9 April 2024.

Policy that sits beside the law

The ban on established dwellings is described in Treasury's guidance as the Government's policy, running from 1 April 2025 to 30 June 2029. Section 95 of the Act deals with the acquisition of interests in established dwellings, and Guidance Note 6 says an established dwelling may be acquired under either a no objection notification or an exemption certificate. The guidance notes explain how the policy is applied. For the exact legal basis of the ban in your case, a lawyer is the right person to ask.

In May 2026 the Government announced reforms that include amending foreign investment law and a new 30 day target for low-risk applications from 1 January 2027. Those law changes had not appeared in the latest compilations when this guide was checked, so the register is the place to confirm the current text.

Frequently asked questions

firbapproval.com.au is an independent guide. It is not affiliated with, endorsed by or connected to the Foreign Investment Review Board, the Australian Treasury or the Australian Taxation Office. We do not lodge or process applications. Applications are made to the ATO. General information only, not legal, tax, migration or financial advice.