Compared to Australians and the Australian Govt, the Kiwis are...

Compared to Australians and the Australian Govt, the Kiwis are Rhode Scholars.

If anyone thinks NZ is selling out, then read this...direct from the FIRB website...and this poicy was reviewed and given the thumbs up in Jan this year.


http://www.firb.gov.au/content/_downloads/AFIP_Jan2012.pdf


RURAL LAND12

"...Rural Land is land used wholly and exclusively for carrying on a business of primary production. To be a business of primary production, the business must be substantial and have a commercial purpose or character.13
A foreign person needs approval to buy an interest in a primary production business where the total assets of the business exceed $244 million (or $1062 million for US investors).

All foreign governments and their related entities should notify the Government and get prior approval before acquiring any interest in rural land..."


So, before any foreigner needs the approval from the FIRB to purchase rural land in Australia, the transaction has to be greater than $244 Million...and that's for any single transaction only. Effectively, the Chinese or Arabs or anyone can make unlimited purchases, as long as each individual purchase is less than $244M...or if you're a Yank, make it a Billion dollars.

Does any one know of any rural land that's valued at more than $244M in Australia? Tasmania Maybe...

The Kiwis have a maximum of 5 hectares for foreign investors before approval is required...and we have a $244M threshhold...lol

If Australians aren't the biggest fools on this planet, then I'd like to know who is...