Pauline Hanson (Queensland, Pauline Hanson's One Nation Party) Share this | Link to this | Hansard source

My question is to the Minister representing the Treasurer, Senator Gallagher. Minister, documents uncovered by One Nation under freedom of information show that foreign owners of Australian houses are not complying with Australian laws. Only one in five foreign purchasers submitted a mandatory disclosure, known as the foreign vacancy fee return, last year. Tens of thousands of foreign-owned homes may be sitting vacant with the required fee not paid, because the mandatory declaration has not been lodged. Minister, how can the Australian people have any faith in what your government says about the level of foreign ownership when you've been caught red-handed letting 80 per cent of foreign owners not comply with the law?

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

I thank Senator Hanson for the question. In this budget, the government has extended the ban on foreign purchases of existing homes to 2029. That is included in the budget paper. That is part of our response to pressures in the housing market and to make sure that Australians aren't competing with foreign buyers for those properties.

It is also interesting to note that foreign buyer levels peaked under the Liberals in 2017-2018, when almost 8½ thousand properties were purchased by foreign buyers. This was down by over two-thirds, from 1.8 per cent of buyers to just 0.5 per cent of buyers, after our foreign buyer ban started in 2025. We have been responding to the issues, making sure that every lever available to us is being used to ensure that housing is affordable and accessible to the Australian community.

In relation to the question on compliance, I don't have any further information to provide other than that I know from my work at estimates—where One Nation raises this issue every hearing—that the Treasury and the ATO respond to questions about the nature of the compliance work that they do to ensure and verify that those arrangements are working properly.

Sue Lines (President) Share this | Link to this | Hansard source

Senator Hanson, first supplementary?

Pauline Hanson (Queensland, Pauline Hanson's One Nation Party) Share this | Link to this | Hansard source

Minister, I would suggest that no-one in Australia believes that foreign purchases are less than two per cent a year. Surveys of real estate agents put the figure as high as 10 per cent. Why won't your government require all real estate sales to be accompanied by proof of citizenship or permanent residency, to ensure no foreign purchases are slipping through undetected?

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

Pauline Hanson (Queensland, Pauline Hanson's One Nation Party) Share this | Link to this | Hansard source

Minister, your government is still allowing foreigners to purchase new homes, driving up demand and prices when Australians can't own one. In 2017, the ANZ bank estimated foreigners owned up to 400,000 existing Australian homes. One Nation says these existing homes should be owned by Australians, not foreigners. When will you force these foreigners to sell their properties, a lot of which are unoccupied while Australians are sleeping in tents and cars?

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

As I outlined, in the budget we have extended the ban on foreign purchases of existing homes to 2029. In relation to the ability to purchase on new builds—you will see this from our policies in relation to negative gearing and capital gains tax—we do support investment in new housing construction in this country because it generates supply and we want housing supply to continue at pace. All of the policies that we are using and putting together are about driving supply. In relation to—

Sue Lines (President) Share this | Link to this | Hansard source

Minister Gallagher, please resume your seat. Senator Hanson?

Pauline Hanson (Queensland, Pauline Hanson's One Nation Party) Share this | Link to this | Hansard source

I have a point of order on relevance. My question was: will the government forced foreigners to sell up their homes?

Sue Lines (President) Share this | Link to this | Hansard source

The Minister is being relevant to your question, and I'll continue to listen carefully.

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

I am being relevant because I have answered what the budget documents outline, and the position of the government, which is the policy of the government, is to extend the ban on foreign purchasers of existing homes to 2029. That was in the budget. It was extended in the budget and that remains the government's policy.