Compliance with foreign investment obligations for residential real estate
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The objective of this audit is to assess the effectiveness of the Australian Taxation Office’s (ATO) and Treasury’s management of compliance with foreign investment obligations for residential real estate.
To form a conclusion against the audit objective, the following criteria will be adopted:
- Compliance and enforcement strategies and detection arrangements are in place to support compliance activities.
- Activities are undertaken to promote voluntary compliance and effectively address identified instances of potential non-compliance.
- The effectiveness of compliance arrangements is monitored and reported.
Note: This audit will not examine foreign investment in agriculture or commercial real estate. This audit will also not examine the approval of applications for investment in residential real estate.