The Australian Government requests 32 years’ of real estate records in an unprecedented foreign buyer crackdown.

The On December 8, 2015, the Australian Government announced it will be conducting extensive cross-checking of records to hunt down illegal owners of Australian real estate. By Scott O. Talbot, December 9, 2015

The Australian Tax Office (ATO) is the Government agency responsible for overseeing foreign property investment.

The ATO will be examining more than 11 million people and has requested 32 years’ worth of data relating to real estate transactions across the country.

The ATO has demanded revenue and land title authorities and rental bond authorities across all Australian states to provide all data from 1985 to 2017.

The ATO compliance officers analysis is estimated to reveal a web of corruption and miss leading behaviour.

Illegal owners of Australian real estate will be hunted down, fined heavily, have their properties seized and/or be prosecuted.

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Australia foreign buyer crackdown