The ATO has released guidance for foreign investors registering registrable water interests in Australia. The guidance covers water access entitlements, water allocations, and irrigation rights granted under state or territory water legislation. Registration is required within 30 days of acquiring the interest, with details including the water entitlement identifier, volume, location, and the foreign investor’s beneficial ownership structure.
Key Takeaways
- Registrable Interests: Includes tradeable water access entitlements and contractual water rights exceeding 1,000 megalitres annually.
- Beneficial Ownership: Disclosure of all individuals with ≥20% interest, including their nationality and tax residency.
- Annual Update: Holders must confirm continued interest annually; changes in volume or ownership must be updated within 30 days.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Original Announcement