The Capital Markets Division is leading or contributing to a number of key policy priorities and engaging our members through our committees and working groups.
Our priorities cover tax and foreign investment, corporate governance and regulation, accounting, and finance affecting the property industry. Recent advocacy updates include:
- ASIC discussion paper on public and private markets: following the creation of a cross-divisional working group, the Property Council made a submission to ASIC on 28 April, covering the role of the private markets in property financing, why industry uses private capital, and risks to the sector from a poorly calibrated or targeted regulatory response.
- Anti-money laundering: AUSTRAC continues to engage with industry on its reforms to Australia’s anti-money laundering regime, including with the Property Council concerning the extension of the regime to cover real estate professionals including property developers. We expect further consultation on the AML/CTF Rules and guidance materials in mid-2025.
- Data Retention Review: in March the Property Council made a submission to the Department of Home Affairs and Attorney-General’s Department’s discussion paper on the Data Retention Review. The Property Council made a number of recommendations concerning the ongoing reforms to AML/CTF obligations, Digital ID reforms and ‘know your customer’ information, and opportunities for reform across Commonwealth regulation and legislation.
- ACCC merger guidelines: the ACCC has consulted on its proposed amendments to its merger assessment and process guidelines, two key documents which outline the framework for the regulator in managing the M&A regime and reforms from mid-2025. The Property Council made its submission on the assessment guidelines, which cover the analytical framework the regulator will use to assess transactions, and the process guidelines which cover the notification waiver process, Phase 1 and 2 assessments, and timeline extensions.
- Thin Capitalisation: our submission to the ATO on 14 March outlined fifteen recommendations to guidance notes that assist industry working with Thin Capitalisation rules. The Property Council is engaging further with the government further in the coming weeks.
- Foreign Investment Review Board: we are working with FIRB to ensure the Future Made in Australia policy meets its stated aims. With shorter timeframes for responses, additional resourcing to look after investors that will build our cities. Issues remain around exemption certificates and sensitive land which we remain committed to advocating for solutions that work for industry.