I said it is not "legally a fraud" which you have claimed in previous post, all the other stuff like "breaking the law" and "it is legal" is all your twisting the word, I did not made those claim.
So now I check, from
How to invest in property as a non-resident | finder.com.au
Foreign investment regulation changes
Unlike some other countries that place few or no restrictions on foreign buyers, Australia has always taken a regulatory approach to overseas property investors. In December 2015, following growing concern that Chinese buyers were driving values up and pricing first home buyers out of the property market, the Australian Government introduced new laws to make it tougher for overseas investors to purchase Australian property.
Under the new laws, non-resident buyers can only purchase new properties, not established ones. Non-residents who purchase property in Australia without first seeking approval from the Foreign Investment Review Board (FIRB) also face fines of up to $135,000, three years’ imprisonment or both. Companies breaching these rules can be fined up to $675,000, while buyers’ agents and real estate agents who help foreign buyers violate these rules also face stiff penalties.
It seem that you FORGOT to mention the imprisonment term. Coming from you, I am not surprise.
ATO hunts down foreign buyers of residential property breaking the law | SMH
By Nassim Khadem
May 8, 2015 — 5.36pm
EXCLUSIVE
Up to 150 cases of potential breaches of the property buying laws by foreigners are under investigation as the Australian Tax Office launches a data-matching campaign that will trawl 30,000 taxpayer's records.
Parliamentary Secretary to the Treasurer, Kelly O'Dwyer, said that the ATO's investigation could lead to audits and criminal prosecution.
Those that were not criminal and were "inadvertent breaches" could make a claim under an amnesty that runs until November 30, just before the Abbott government's new tougher laws on foreign buyers – including three-year jail terms and fines of as much as $127,500 for individuals and $637,500 for companies – take effect.
....
I wonder what the
"inadvertent breaches" refer to.
The ATO has forced 300 foreign buyers to sell their Australian property | Business Insider
SAM JACOBS
DEC 10, 2018, 10:44 AM
- More than 300 foreign buyers who were in breach of ownership rules have been forced to sell their Australian properties, the government said.
- In the 2017/18 financial year, the majority of forced sales took place in Melbourne, where the average price of each transaction was $1.13 million.
- The crackdown on foreign buyers has picked up pace since the government granted new powers to the tax office in 2015.
- ....
The Australian gov't put up those law in 2015, they would be pretty incompetent if they still cannot stop the illegal property buying.
It seem to me that if you don't like non-resident to buy property, just check before purchase, and stop the purchase if someone cannot prove that. Even an idiot would figure that one out. If you let the purchase go through, and then fine and punish them afterward, something don't smell right here.
Anyway it is Australia business, I am sure the Australian gov't is capable of running Australia.