FIRB changes

here is some of it

Temporary residents’ exemption

Temporary residents will not be required to notify proposed acquisitions of:

• an established dwelling for their own residence (not for investment purposes);
• any new dwellings; and
• single blocks of vacant residential land (other acquisitions of vacant land will require notification and will normally be approved subject to development within 24 months).

The exemption will include acquisitions of property by temporary residents via their wholly owned trust or Australian incorporated company.

The existing notification requirements will continue to apply to non-residents, who must notify all proposed acquisitions of residential real estate.