Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Link to this | Hansard source

I move:

That this bill be now read a second time.

This bill contains technical amendments to support changes announced in the 2017-18 budget that streamlined the foreign investment framework.

These amendments introduce a reconciliation fee on developers for dwellings sold to foreign persons under a near-new dwelling exemption certificate. The near-new dwelling exemption certificate was introduced through regulatory amendments that took effect from 24 June 2017.

This bill is further evidence of the government getting on with the job, reducing compliance, making the law more fair and getting reforms done.

Full details of the measure are contained in the explanatory memorandum.

Debate adjourned.