Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Hansard source

I thank Senator Hanson for that supplementary. The advice and information provided to me—and that is the information that's provided by the officials that monitor this—is that foreign buyers of housing in this country make up just 0.5 per cent of buyers. That hasn't always been the case, but that is the information that I have been provided with. I think that would be more accurate—because it would be using the financial records available to government—than a survey of real estate agents.

In relation to compliance, since 1 July 2023, all acquisitions and sales of residential land by foreign persons have been required to notify the new Register of Foreign Ownership of Australian Assets. Also, the ATO assumed responsibility for residential real estate in December 2015 and, since then— (Time expired)