A foreign person buys a newly built apartment in WA. Besides transfer duty and WA's additional foreign buyer duty, what approval will they generally need?
Correct Answer
A) Approval from the Foreign Investment Review Board (FIRB)
Foreign persons buying residential land in Australia, including WA, generally need approval under the Foreign Acquisitions and Takeovers Act 1975 (Cth), applied for through the Foreign Investment Review Board framework, before they buy, and application fees apply. New dwellings can usually be approved. From 1 April 2025 to 30 June 2029 (as extended in the 2026–27 Budget), foreign persons are banned, with limited exceptions, from buying established dwellings.
Why This Is the Correct Answer
Foreign persons generally need federal foreign investment approval before buying Australian residential property, on top of any state duties.
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