Almost fell of the chair in shock when I read the news. New laws to stop the assets being sold to over seas buyers....
Lets hope its Not going to be a loop hole policy.
About time too !!


Pete

https://www.dailymail.co.uk/news/article-8389985/amp/PM-announces-tough-new-measures-stop-foreigners-buying-land-assets.html

This law should automatically disqualify any CCP-owned (in whole or in part) company buying or leasing anything here. Being a free market should not oblige Australia to sell itself out to the Chinese Government, or the government of any communist state for that matter.

I'm going to go half and half here. No foreign company should be able to buy any Australian company. The lease laws need to change. Yes lease any company within reason but for 20 years, not 99 years, and only if the Australian public is served first and at a reasonable cost. This would mean the original owners may have the chance of getting the company back or will it to their newer family members.
There are lots of countries that don't even allow that!

I think this is a very good step. I chat to lots of people on this topic and they feel, Enough is enough.
It's near impossible for us to buy assets overseas ,It needs to be in the name of a citizen of that particular country.
Yet here we are drinking milk from cows that roam our hills and eat our grass ,but are owned by overseas companies
Now last I looked our cows did not look Chinese!

This new law (which hasn't been passed yet) doesn't take effect until some time next year.

In my opinion, overseas countries should not be able to purchase any more than what we own in their country. Some countries don't allow foreigners to own anything, so we should respond in kind.

The main reason that stuff ends up in overseas hands is that there are zero buyers here on shore. Plenty of dig it up and ship it out billionaires (and one in particular) ready to support China, but they are very quiet when it comes to keeping asset ownership onshore.

At least the CCP can't take our radios!

I still can't believe port Darwin is being leased for 99 years!
If they ever made land based attacks you know where it would start

As an aside I reckon any company which does business in Aus should be forced to have their call centre in Aus.
It drives me nuts trying to understand someone from Mumbai who is reading from a script and has 0 understanding of your problem.

BOE, it will never happen. It has been discussed many times by military strategists. China has 6 million men in its regular army. What they don't have is a means to get them 7,000km over the ocean.

The Port of Darwin is subject to a crown lease. A crown lease can be broken by the lessor at any time and without compensation.

Let you all into a secret! The chinese bought Dairy Farmers from the japanese not from an australian .

The chinese bought Dairy Farmers from the japanese not from an australian

Yep, and the sale to Kirin was just another case of nobody here interested enough to keep DF Australian.

Makes no Difference , whether it was Japan ,China or Germany . It should of never left Australian hands. The list would be huge though , probably a better question maybe to ask what do we still own?

I remember the days of regulated milk. Dairy Farmers and Peters in Sydney, United Dairies to the west and Oak to the north. I am not sure what they had down south. Chances are, it was all Australian back then, given that all the milk companies were co-operatives.

Australia is more like a quarry: The world takes away the resource & uses it to make profit, even by selling it back to us.