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In December 2018, a parliamentary committee into
Managing Compliance with Foreign Investment Obligations for Residential Real Estateslammed the Australian Tax Office (ATO) for failing to enforce rules precluding foreign nationals from purchasing established Australian homes:
Despite at least 877 breaches of the country’s foreign ownership laws being uncovered in Victoria, the Australian Taxation Office has failed to land a single criminal prosecution since tough new laws came into effect more than three years ago…
Labor MP Julian Hill, the deputy chairman of the Public Accounts and Audits Committee, said it was “astonishing that there had been no prosecutions”…