Due to unforeseen circumstances, we are unable to build the house on the land we bought last year. How will the Government view us selling without undertaking development?
The Government is most concerned about foreign interests acquiring residential real estate in Australia without complying with the development conditions. You must contact the FIRB to explain your circumstances. Your claims will be considered and a decision given to you on what action you should take. A proactive approach where you initiate contact early is viewed more favourably than through normal routine follow-up activities where we discover conditions have not been met.
A. The Government is most concerned about foreign interests acquiring residential real estate in Australia without complying with the development conditions. You must contact the FIRB to explain your circumstances. Your claims will be considered and a decision given to you on what action you should take. A proactive approach where you initiate contact early is viewed more favourably than through normal routine follow-up activities where we discover conditions have not been met.
Related Questions
- I inadvertently bought some land about 6 months ago to build a house and recently a friend told me that I should have obtained FIRB approval. What action will the Government take against me now?
- Due to unforeseen circumstances, we are unable to build the house on the land we bought last year. How will the Government view us selling without undertaking development?
- Due to unforeseen circumstances, we are unable to build the house on the land we bought. How will the Government view us selling without undertaking development?
