{"id":32557,"date":"2015-10-08T00:00:00","date_gmt":"2015-10-08T00:00:00","guid":{"rendered":"https:\/\/cms.fiveaa.com.au\/uncategorized\/technology-outsmarts-foreign-investment-rules-2\/"},"modified":"2015-10-08T00:00:00","modified_gmt":"2015-10-08T00:00:00","slug":"technology-outsmarts-foreign-investment-rules-2","status":"publish","type":"post","link":"https:\/\/cms.fiveaa.com.au\/show\/technology-outsmarts-foreign-investment-rules-2\/","title":{"rendered":"Technology outsmarts foreign investment rules"},"content":{"rendered":"

100 years ago if you wanted a lump of Australian sovereignty, you\u2019d bring an army, says Senator Bill Heffernan.<\/h3>\n

\u201cBecause of technology, you just bring your cheque book these days,\u201d Senator Heffernan told Leon Byner on FIVEAA.<\/p>\n

He said the Foreign Investment Review Board (FIRB)\u2019s rules needed updating because \u201ctechnology\u2019s outsmarted the law\u201d.<\/p>\n

LISTEN to Senator Bill Heffernan here:<\/strong><\/p>\n

 <\/p>\n

The FIRB\u2019s rules have come under scrutiny as sovereign entities bid for Australia\u2019s Kidman cattle empire, which will be sold later this year.<\/p>\n

\u201cUnfortunately the tax law hasn\u2019t changed to take note of sovereign investment,\u201d said Heffernan.<\/p>\n

He said sovereign investors \u2013 if they decided \u2013 could avoid the tax system.<\/p>\n

\u201cThere are many lurks and perks.<\/p>\n

There\u2019s nothing wrong with foreign investment, he said, \u201dBut it has to be on a level playing field.\u201d<\/p>\n

SEE ALSO: DO PORT ADELAIDE HAVE ROOM FOR TWIN YOUNG GUNS?<\/a><\/strong><\/p>\n

SEE ALSO: AIR HOSTESS SACKED FOR RUNNING HER OWN ‘MILE HIGH CLUB’<\/a><\/strong><\/p>","protected":false},"excerpt":{"rendered":"

100 years ago if you wanted a lump of Australian sovereignty, you\u2019d bring an army, says Senator Bill Heffernan. \u201cBecause of technology, you just bring your cheque book these days,\u201d Senator Heffernan told Leon Byner on FIVEAA. He said the Foreign Investment Review Board (FIRB)\u2019s rules needed updating because \u201ctechnology\u2019s outsmarted the law\u201d. LISTEN to […]<\/p>\n","protected":false},"author":6,"featured_media":21183,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[249,231],"tags":[],"geo_market":[],"class_list":["post-32557","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-leon-byner","category-show"],"acf":[],"yoast_head":"\nTechnology outsmarts foreign investment rules - FIVEAA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cms.fiveaa.com.au\/show\/technology-outsmarts-foreign-investment-rules-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Technology outsmarts foreign investment rules\" \/>\n<meta property=\"og:description\" content=\"100 years ago if you wanted a lump of Australian sovereignty, you\u2019d bring an army, says Senator Bill Heffernan. \u201cBecause of technology, you just bring your cheque book these days,\u201d Senator Heffernan told Leon Byner on FIVEAA. He said the Foreign Investment Review Board (FIRB)\u2019s rules needed updating because \u201ctechnology\u2019s outsmarted the law\u201d. 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