Foreign investment in farmland

[MattSAU2XR8]

Hey guys, I came across the following article recently, which describes Chinese companies buying up, and aiming to increase the buying up of Australian farms...

https://au.news.yahoo.com/sunday-nig...-aussie-farms/

This got me to thinking, does the Australian Government have an upper limit or target for how much of our land they want to see sold to foreign countries? The obvious concern would be that if in 100 years another larger country managed to buy ALL the land then wouldn't that entitle them so simply move in? Or ship everything out that wasn't bolted down....

PS - I have nothing against Chinese people, like them as much as I like anyone else, this is purely about selling off land and would be the same concern whatever country was buying :-)

[Franco Cozzo]

Even if there was a 'limit' of sorts on size, they could consistently purchase just under the limit and fly under the radar.

I believe they were doing something similar a few years ago, there was some size restriction and they kept buying just under it (In SA or something I remember vaguely?)

[superyob]

Originally Posted by MattSAU2XR8

Hey guys, I came across the following article recently, which describes Chinese companies buying up, and aiming to increase the buying up of Australian farms...

https://au.news.yahoo.com/sunday-nig...-aussie-farms/

This got me to thinking, does the Australian Government have an upper limit or target for how much of our land they want to see sold to foreign countries? The obvious concern would be that if in 100 years another larger country managed to buy ALL the land then wouldn't that entitle them so simply move in? Or ship everything out that wasn't bolted down....

PS - I have nothing against Chinese people, like them as much as I like anyone else, this is purely about selling off land and would be the same concern whatever country was buying :-)

The mere fact that you mentioned 'Chinese people' is enough to convince some ******* that you are racist. On the topic of land being sold to foreign interests, this is never a good idea. We need to feed ourselves first and foremost...

[mechanic]

Recently did an extensive trip through western Qld and NSW.
On the front gate of Isis Downs station is the winegalss symbol of CPC, Consolidated Pastoral Company. My grandfather worked here in the early 1900's.
Turns out they're majority owned by Terra Firma.
Terra Firma is a European based consortium that now owns 5.7 million hectares or .75% of our land mass.
Foreign ownership is nothing new in Australia, to me the worry is whether we will ever have a government with enough intestinal fortitude to put our interests first or just stick to the same old system of selling our selves off for next to nothing.

These properties below are CPC owned, predominately Qld. and NT.

Allawah
Argyle Downs
Auvergne Station
Bunda
Carlton Hill
Comely
Cooinda
Dungowan
Gowan
Humbert River
Isis Downs
Kirkimbie
Manbulloo
Mimong
Mt Marlow
Newcastle Waters
Newry
Nockatunga
Ucharonidge
Wrotham Park

Last year when I was out that way Isis Downs and Nockatunga were practically destocked due to the drought.
If we want to keep Australia in Australian hands the taxpayer is going to have to be willing to subsidise the owners to maintain the properties through extensive periods of drought.

[MattSAU2XR8]

Originally Posted by Big Damo

Even if there was a 'limit' of sorts on size, they could consistently purchase just under the limit and fly under the radar.

I believe they were doing something similar a few years ago, there was some size restriction and they kept buying just under it (In SA or something I remember vaguely?)

What I was getting it, is whether they would consider drawing a limit on TOTAL foreign ownership of (a) total land area, (b) habitable land area, i.e. houses, and (c) arable land area. I'm not sure what its up to so far but I think 10 % is plenty. Once it hits 10 % then they should just put an end to it.

On the topic of why anyone would think its a good idea to sell land to other countries, the only people to benefit in this case are the farmers who have gone broke, or the banks who are foreclosing. I do feel quite sorry of the farmers, not so much the banks, but at the end of the day going broke is not really a good enough excuse to sell off the county.

[danzvtil]

Im all for foreign investment, the only problem with sovereign interests buying here is they can export primary production directly to their market without any interaction with the ATO. There is also a recent agreement signed stating that up to 5000 Chinese workers can legally work here, this will be to the detriment of Australian workers.
These loop holes need to be closed so we can grow as a country even with foreign ownership of assets.

[Yellow_Festiva]

Wonder who will buy that block that spans 4 states that's almost the size of England?

$330+ million. Biggest land sale in the world!

[Tonz]

If you were a farmer or pastoralist and Noody down the road or his bank or an aussie consortium offered you X $$ per acre and King Kong came and added 10% extra what would you take.

Recently had that happen over this way, large grain and sheep farm goes on market, locals all scream blue bloody murder at the asking price (while at the same time thinking...'if that sells for that price then I could sell up and get the same) no aussies were willing to come near the asking price but foreign interests (not chinese) paid up quickly.

Sorry but if I owned a station or large farm and was struggling to make a profit after taxes and gov stuff ups and blockages I know which way Id ge going.

Its all well and good for non committed do gooders to stick their 2 bobs worth in, but unless your involved and have vested interest. Pi** off

[Tonz]

PS dont get me angry on this one.

[zilo]

I bought farmland for around 900k eighteen months ago.

In my email inbox last week I received a signed, unconditional offer for around 3m by a Chinese company.

What would you do Tonz?

[blueoval]

I also watched that program on Sunday night and it did raise some concerns I had much like the OP.

I have nothing against foreign investment either, but it needs to include Australians as part of it's employment and export program.

[Burnout]

All this has happened before, with the huge influx of US and other capital after the war and in the '60's.
It will happen again. Never fear.
No one farms here as we can. WE are the worlds most efficient farmers.

[Bossxr8]

The Chinese will need all the food they can get at some point, and will probably ship it all over there while we run short. How stupid are we.

[blueoval]

Originally Posted by Bossxr8

The Chinese will need all the food they can get at some point, and will probably ship it all over there while we run short. How stupid are we.

That is the fear I have for this country based on the show I watched last night.

[zilo]

Originally Posted by Bossxr8

The Chinese will need all the food they can get at some point, and will probably ship it all over there while we run short. How stupid are we.

You hit the nail on the head there mate.

We supply the land and.....the WATER...

They ship the food back to feed a billion hungry mouths there,.

and why shouldn't they?

We could conceivably have a famine here whilst being the most intensively farmed place on earth.

We'll soon see that happen up North if our idiotic politician (singular) gets his way.

They will soon be asking to build a military base here to protect their assetts....

[Polyal]

Well they are about the only people spending at the moment so its that or some of these places go bust.

BUT....I thought agriculture is all we have going for us at the moment so I dont know why farmers would sell up now unless they are struggling.

As above, FI is ok if its managed, you could even set labour ratios to ensure Australians (permanent residents) have jobs. Thats my only concern, FI's coming in a rooting the labour rate although some industries could do with a reality check...a good down turn has the same effect though. Mining is a perfect example.

[GASWAGON]

Originally Posted by blueoval

That is the fear I have for this country based on the show I watched last night.

Yes I watched Channel 7 'Sunday Night' last night also.....VERY disturbing.

Heres the artcile.

https://au.news.yahoo.com/sunday-nig...-aussie-farms/

[Yellow_Festiva]

Originally Posted by CoolBFWagon

Yes I watched Channel 7 'Sunday Night' last night also.....VERY disturbing.

Heres the artcile.

https://au.news.yahoo.com/sunday-nig...-aussie-farms/

The Koreans are also trying to get into it with mining.

Aussie beef is highly regarded in Korea. I thought I was seeing things when I was at large supermarket in Seoul. Aussie beef for $9.90 to $12 per kg.

Till my friend pointed out it's sold per 100g......

[Denim]

Originally Posted by zilo

I bought farmland for around 900k eighteen months ago.

In my email inbox last week I received a signed, unconditional offer for around 3m by a Chinese company.

What would you do Tonz?

I would FLATLY refuse that offer Zilo.. pride and patriotism would get in my way, if I didnt get AT LEAST $5 million, I wouldnt sell..

[GasoLane]

Originally Posted by CoolBFWagon

Yes I watched Channel 7 'Sunday Night' last night also.....VERY disturbing.

Channel 7's answer to ACA

[nuthin' fancy]

Originally Posted by Tonz

If you were a farmer or pastoralist and Noody down the road or his bank or an aussie consortium offered you X $$ per acre and King Kong came and added 10% extra what would you take.

Recently had that happen over this way, large grain and sheep farm goes on market, locals all scream blue bloody murder at the asking price (while at the same time thinking...'if that sells for that price then I could sell up and get the same) no aussies were willing to come near the asking price but foreign interests (not chinese) paid up quickly.

Sorry but if I owned a station or large farm and was struggling to make a profit after taxes and gov stuff ups and blockages I know which way Id ge going.

Its all well and good for non committed do gooders to stick their 2 bobs worth in, but unless your involved and have vested interest. Pi** off

Racial characterisations such as those highlighted above will see this thread closed and deleted.

For mine, I think a quid pro quo approach needs to be taken, citizens and entities ultimately controlled by one country can only buy our land on the same basis that we can buy theirs. I don't believe I can make a freehold purchase in China or Korea, why should they be permitted to purchase ours?

[Yellow_Festiva]

A foreigner can certainly buy real estate in Korea.

http://southkorea.angloinfo.com/hous...or-foreigners/

http://www.korea4expats.com/Living-i...-Korea-22.html

[DoreSlamR]

Fear mongering.

50 million hectares is just over 1% of all Australian agricultural land.