Under the Cover of Covid 15,000 Wealthy Foreigners given Australian Visas!

DURING the Pandemic 15,000 wealthy foreigners have been given Australian Visas!

WE did tell you so! 

Martin North, principal of property research firm Digital Finance Analytics, also notes ‘there’s been a swing away from foreigners looking to invest to people wanting to move here.’  And that they are more interested in buying land and larger properties!

Overseas Buyers are tipped to Return!

https://www.abc.net.au/news/2021-07-02/chinese-overseas-buyers-australia-property-housing-investors/100259470

Little-known property investor quietly secures $32m housing parcel in Vaucluse

https://www.domain.com.au/news/ying-yu-sister-in-law-of-wilson-shoe-king-xue-buys-8m-house-as-part-of-32m-vaucluse-consolidation-1073532/

MEANWHILE tens of thousands of Australians remain stranded overseas!

This latest report:

https://www.abc.net.au/news/2021-07-28/australians-want-to-flee-coronavirus-hit-indonesia/100323264

IS this not the ultimate betrayal by the Morrison Government through its business innovation and investment visa programme?

Under these visas:

Business Innovation Stream applicants can buy or start a business, and have $1.25M in either business or personal assets

Investor stream, applicants have to be recommended by a state or territory agency and invest $2.5M on authorised investments

Significant investor stream, applicants must invest $5M, with a minumum $1M in venture capital or private equity

In September 2016 in its final report the Productivity Commission called for these visas to be scrapped because they are channels for money laundering!

WHY hasn’t there been a response from the Morrison Government to a public inquiry into “Migrant intake into Australia”?

https://www.pc.gov.au/inquiries/completed/migrant-intake#report

With the ‘Significant Investor and Premium Investor Visas’

no English language requirements

no upper age limits

-a risk they might be an avenue for ‘dirty money’

Most business and investment immigrants are often older, buy retail and hospitality businesses, so how can this add to Australia’s innovative and entrepreneurial capacity?

View this AFR report about migration agents enabling Chinese investors to gain Significant Investment Visas!

https://www.afr.com/companies/financial-services/vc-funds-concoct-fraudulent-visas-for-wealthy-chinese-investors-20200729-p55gii

HOW can this be of any benefit to the Australian people and our Nation with more competition to buy our businesses from overseas with ‘black money’?

AND even more competition for a limited supply of housing, and inadequate infrastructure as these VISAS allow ‘Permanent Residency,’ and the benefits of parking ‘their family’ in Australia as they can continue to run their business in another country?

These families have access to our MEDICARE, and FREE EDUCATION as their business is predominantly overseas! 

WT ****!

READ MORE!

https://www.watoday.com.au/national/15-000-rich-foreigners-given-visas-to-australia-during-the-pandemic-20210721-p58bky.html

When we Looked at News Videos of the Maguire ICAC Hearing …

WHEN WE LOOKED AT NEWS VIDEOS OF THE MAGUIRE ICAC HEARING …

The reports we had seen on the news only featured Scott Robertson ICAC Assisting Counsel, examining.

However the camera then crossed to Arthur Moses SC seated there, and we were wondering what role he had in this inquiry?

We now see that Arthur Moses SC was there representing Gladys Berejiklian!

This is interesting … what a tangled web of property developers, real estate gatekeepers, the Law Council of Australia and MPs … because back in February 2019 a report appeared in the Australian Financial Review that REAL ESTATE AGENTS with the backing of the LAW COUNCIL OF AUSTRALIA were able to weasel their way out of the Anti-Money Laundering legislation allegedly on the basis that imposing the full AML/CTF (the second tranche of the AML Laws) may create conflicts with the lawyer’s duty of confidentiality, and the principle of client professional privilege!

‘President of the Law Council of Australia Arthur Moses, SC, said their profession was already extensively regulated by the states and territories under a comprehensive and robust regulatory system.

The Law Council is concerned that imposing the full AML/CTF regulatory regime may create conflicts with the lawyer’s duty of confidentiality and the principle of client professional privilege, as well as increasing the cost of legal services to the community,’ he said.

At the time CAAN asked these questions

WHY is it with the purchase of real estate there should be some difference compared to buying or selling a vehicle, why is it different?

Why is it difficult to apply laws to the purchase of real estate?

Why is that compromising a lawyer?

Why should real estate be any different to any other matter?

If there are laws governing real estate so be it. It should not make any difference to a lawyer. If lawyers have a matter before them that involves a crime they have two choices:

-do it for their client knowing their risk

-not do it

View: ‘Labor to Target Lawyers, Accountants, Real Estate Agents’

https://www.afr.com/companies/labor-to-target-lawyers-accountants-real-estate-agents-20190224-h1bnd3

May be an image of 1 person

Photo: Gladys Berejiklian’s lawyer Arthur Moses SC

The Head of Multi-Million Dollar Money Laundering Ring Arrested!

Yi Zhong, seen in a file picture, has been arrested in Sydney.
Cybercrime squad detectives made the arrest on Monday.

WHAT a corrupt little Nation we have become whereby SO much ‘Black Money’ is awash here!

AND that it appears to have been encouraged with laundering facilitated by the growth of Casinos until recently …

and Our HOUSING MARKET is AWASH with it!

WHY was it that the Real Estate Gatekeepers were made exempt from Anti-Money Laundering Laws back in

October 2018 by the Morrison Government?

Whose interests does the Morrison Government represent? … Cough … cough …

‘$1m in cash seized as man arrested over alleged money laundering via cryptocurrency’

Police have arrested in Sydney’s Inner West … the Head of a MultiMillion dollar money laundering ring and seized $1M cash from his vehicle

READ MORE!

https://www.smh.com.au/national/nsw/1m-in-cash-seized-as-man-arrested-over-alleged-money-laundering-via-cryptocurrency-20210222-p574sb.html

‘Locked Out’ … Again!

No photo description available.
CAAN PHOTO FEBRUARY 2021

‘Locked Out … Again!’ A whole Cohort of Australians from X Generation, Millennials, Z …

CAAN suggests it is not only the impact of Mum and Dad Investors returning to the market … low interest rates … the limited supply of houses BUT the return of the Onshore Proxy … at Open Home Inspections messaging on Smart Phones … who do you figure they are buying for?

-the Middle Kingdom and or Hong Kong, Singapore …

Why not copy and paste the VIDEO link and share in an email to your Contacts?

THEN Invite others to Search CAAN WEBSITE for how this dire predicament has in fact been contrived to benefit the few here, like those on the AFR Rich List, and largely their overseas wealthy clients who can gain a Permanent Resident Visa following property purchase!

HINT they can buy a ‘new home’ as an entry e.g. a studio apartment in woop woop, and gain this PR Visa … to then fly here and buy up more real estate including Heritage Homes, suburban bungalows, a whole level of an apartment development …

IT would seem they knew about this long before many of us …

VIEW AND SHARE this video!

What does the real estate price surge mean for home buyers?

https://www.abc.net.au/7.30/what-does-the-real-estate-price-surge-mean-for/13181150

SEARCH CAAN Website for …

-Anti-Money Laundering Laws

.Real Estate Gatekeepers made exempt in October 2018 by Morrison Government

-Black Money

-Developers Buy Access in NSW

-Foreign Property Buyers

-Foreign Investment Review Board (FIRB)

.FIRB Ruling following the GFC that allowed developers to sell 100% of ‘new homes’ to overseas buyers … up from 50% particularly in China ….

.

DEVELOPER LOBBY GROUPS:

-Urban Taskforce

-Property Council of Australia (PCA) and …

.When Scott Morrison skipped out the doors of the Property Council of Australia (PCA) in 1995, where he had spent six years cutting his teeth as a spinner, lobbyist and propagandist, he landed in the tourism sector. 

-Visa Manipulation

.with a vast range of Visas including those for students, PhD Student, 457 Visa now revised for Skilled Workers, Family, Grandparent, Guardian, Significant Investor, Investor Stream …

CAAN Website:

https://caanhousinginequalitywithaussieslockedout.wordpress.com/

WHEN We looked at News Videos of the Maguire ICAC Hearing …

The reports we had seen on the news only featured Scott Robertson ICAC Assisting Counsel, examining.

However the camera then crossed to Arthur Moses SC seated there, and we were wondering what role he had in this inquiry?

We now see that Arthur Moses SC was there representing Gladys Berejiklian!

This is interesting … what a tangled web of property developers, real estate gatekeepers, the Law Council of Australia, and MPs … because back in February 2019 a report appeared in the Australian Financial Review that REAL ESTATE AGENTS with the backing of the LAW COUNCIL OF AUSTRALIA were able to weasel their way out of the Anti-Money Laundering legislation allegedly on the basis that imposing the full AML/CTF (the second tranche of the AML Laws) may create conflicts with the lawyer’s duty of confidentiality and the principle of client professional privilege!

‘President of the Law Council of Australia Arthur Moses, SC, said their profession was already extensively regulated by the states and territories under a comprehensive and robust regulatory system.

“The Law Council is concerned that imposing the full AML/CTF regulatory regime may create conflicts with the lawyer’s duty of confidentiality and the principle of client professional privilege, as well as increasing the cost of legal services to the community,” he said.’

At the time CAAN asked these questions …

WHY is it with the purchase of real estate there should be some difference compared to buying or selling a vehicle, why is it different?

Why is it difficult to apply laws to the purchase of real estate?

Why is that compromising a lawyer? Why should real estate be any different to any other matter?

If there are laws governing real estate so be it. It should not make any difference to a lawyer. If lawyers have a matter before them that involves a crime they have two choices:

-do it for their client knowing their risk

-not do it

View: ‘Labor to Target Lawyers, Accountants, Real Estate Agents’

https://www.afr.com/companies/labor-to-target-lawyers-accountants-real-estate-agents-20190224-h1bnd3

Also view this on our CAAN Facebook!

https://www.facebook.com/Community-Action-Alliance-for-NSW-744190798994541/?ref=aymt_homepage_panel

CAAN WEBSITE:

https://caanhousinginequalitywithaussieslockedout.wordpress.com/

Stockbrokers the new Money Laundering Front Line as Illicit Funds target the ASX

Stockbrokers the new money laundering front line as illicit funds target the ASX

Key points:

  • A proposed law change means stockbrokers would not need to identify their clients for up to five days after making a trade
  • Experts say that could open up a new loophole for proceeds of crime to be laundered through the ASX
  • Stockbrokers say they did not ask for the change and most brokers would not take the risk of trading on behalf of an unidentified client

https://www.abc.net.au/news/2020-09-21/stockbrokers-money-laundering-asx-share-market/12678720

And Related Articles:

How banks help criminals get rich

https://www.abc.net.au/radionational/programs/backgroundbriefing/fincen-files-banks-help-criminals/12678812

Fraud, money laundering and insider trading the biggest risks to ASX: AUSTRAC

https://www.abc.net.au/news/2017-07-12/fraud-and-insider-trading-biggest-risks-to-asx/8700432

Australia a ‘place of choice’ for money laundering due to lack of regulation: ANZ

https://www.abc.net.au/news/2017-07-13/should-australias-anti-money-laundering-laws-be-extended/8703354

AND …

One Gold Coast man is linked to thousands of companies. He’s been named in a huge US leak

State Street hit with million-dollar money laundering fine

Links for the FinCEN Files

These reports reveal why we should care about money laundering apart from the fact that our real estate market has been awash with ‘Black Money’ from money launderers lured by the reward of Permanent Residency … and the consequences of a whole Cohort of Australians locked out of home ownership in Australia!

FinCEN files reveal suspicious transactions were waved through despite red flags

By the International Consortium of Investigative Journalists

Posted and updated 21 September 2020

Key points:

  • Banks moved more than $2.7 trillion in payments they believed were suspicious over 18 years
  • Some of the biggest banks in the leaked files continued to wave through suspect payments despite promises to government authorities to improve money laundering controls
  • Donald Trump’s former campaign manager Paul Manafort features in the documents

READ MORE!  https://www.abc.net.au/news/2020-09-21/fincen-files-reveal-suspicious-transactions-approved-red-flags/12685678

FinCEN Files: All you need to know about the documents leak

Posted 22 September 2020

Documents have been leaked that divulge some $2 Trillion of transactions through the biggest banks have enabled criminals to move ‘black money’ around the Globe!

The FinCEN files are:

-more than 2500 documents sent to US authorities between 2000 and 2017

-among the International banking system’s most closely guarded secrets

-hundreds of investigative journalists have been examining these documents to find what the banks would prefer we did not know about!

READ MORE!

https://www.bbc.com/news/uk-54226107

FinCEN Files: The accidental money launderer

Background Briefing

 By Mario Christodoulou and Geoff Thompson

Posted and updated 22 September 2020

AUSTRALIA’S Real Estate has been awash with Black Money with the Real Estate Gatekeepers exempt from AML Laws!  …

And this has only been slowing down due to the Pandemic …

But there has been another avenue apart from casinos … through money remitters!

SUPERFOREX is one with offices across Sydney it enables immigrants to send money back home …

In October 2015, an analyst from The Bank Of New York Mellon observed more than $20 M was heading for SuperForex’s account in CHINA.

Suspicion was aroused because this money was moving between shell companies hiding the identity of the recipients!

READ MORE!

https://www.abc.net.au/news/2020-09-22/money-remitter-superforex-named-in-fincen-files-leak/12686168

Related Stories

One Gold Coast man is linked to thousands of companies. He’s been named in a huge US leak

America’s biggest bank flagged Manafort’s $50m of transfers as suspicious

Stockbrokers the new money laundering frontline as illicit funds target the ASX

How did we Australians lose control of Our Housing Market?

CAAN Photo: 10 townhouses under construction where a home was demolished

‘It may be time to revisit the credit controls used in Australia in the 1950s and 1960s, which directed investment into new rather than existing housing and helped increase home ownership.’ 

That is what Labor proposed prior to the last Election!  To limit negative gearing to new housing.  Investors would only deduct net rental losses from ‘new homes’ from their wage income.

And all investments made before the changes would be grandfathered to claim losses against wage income.

Here the authors go even further! 

‘Tax advantages extended housing investors, such as negative gearing and discounted capital gains taxes, should be scrapped. ….

Challenging vested interests will be hard, but the current downturn offers hope.’  

We note no mention of ‘foreign buyers’ who have taken advantage of financial returns from buying our real estate with ‘hot money’ often through a Proxy buyer.

Perhaps despite so much material raising these concerns with sadly no changes by the Morrison Government apart from exempting real estate gatekeepers from the AML Laws (in October 2018) … the authors have chosen to focus on the incumbent rentier class?  Who until recently were outnumbered by those from overseas …

It is not only the ‘tax advantages’ that foreign buyers seek but ‘Permanent Residency’… for now international travel is very limited … but buying online still maintains … now targeting homes sought by Australian First Home Buyers!

READ MORE!

https://www.abc.net.au/news/2020-08-18/house-prices-how-we-lost-control-of-the-market/12566552

PLANNING MINISTER MOVES TO ENACT SINISTER ‘MEDIUM-DENSITY HOUSING CODE’ FOR 1 JULY 2020

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CAAN Photo: even fugly like this in one of Sydney’s exclusive Harbourside areas … however only 150 dwellings for this LGA. Too bad for the neighbours at the rear could this be too close for comfort?

DESPITE the strong objections from Councils and Constituents …

It’s happened across Sydney wherever higher density has been deemed … this is the second stage … their appetite whet for more …

TO demolish our streets for crap like this …

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CAAN Photo 10 Townhouses 10 X water and sewer where there was one home
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CAAN Photo oversized duplex showing signs of poor workmanship

IN the lead up what it will mean …

THE MOB moves will be underhand … our properties undervalued …

NEXT … wholesale demolitions … asbestos clouds … excavations … jackhammers … tradies trucks pack out our streets … chainsaws too … mud … cement dust … visa workers not trained through our TAFE … latrines on the streets …. footpaths turned into rubble … hazards for pedestrians … conga lines of trucks … cement mixer trucks … concrete pores even as late as 8 p.m. 

THIS is planned for across NSW … no escape …

As ‘Our Families‘ are priced out … note this Report …

‘Major proposed changes to Australia’s Foreign Investment regime announced by the federal government’

FOREIGN INVESTMENT means FOREIGN ACQUISITION … OWNERSHIP

HOWEVER …

‘There are no significant changes proposed to the rules regarding residential real estate’ *

Read more!

https://www.jdsupra.com/legalnews/major-proposed-changes-to-australia-s-72340/?fbclid=IwAR3wlTpsAeLsvWHEQ_FOX3itPaUSHLENAQijDGIPBAsI0lT2uwqA2tqtFIA

As China is alleged to be easing off … enter Millions of buyers … Billions of ‘em from Hong Kong … Malaysia,  Singapore, India … and obviously more Black Money awash in our Real Estate … remember the Real Estate Gatekeepers are exempt from the Anti-Money Laundering Laws (Morrison Govt October 2018) …

BUT … what the Property Sector may find that due to the Pandemic … that international travel will not happen until there is a vaccine … so despite no laws to prevent foreign acquisition … the market may not just be there!

WHEN some believer says ‘Come on … Liberals are good economic managers’ … OR ‘lay off these guys’ … just remind them how good they are …

-and what it has been costing us …

Mr Pants-on-Fire from the Shire was anointed by the Federal developer lobby, Property Council of Australia for the top jobso that the PCA holds the reins of Australia …

He wrote the policy for the PCA before entering politics …

AND in NSW the Mob rule from Macquarie Street … read more:

https://www.smh.com.au/national/nsw/frustrated-minister-says-no-more-delays-as-housing-plan-rolls-out-20200615-p552sg.html?fbclid=IwAR3HDCngmrCNwOfQQB79_Rjd-SACeNRIOSGiqAcE5qi4NjZYjsVR7e3eaSo

VIEW CAAN’s earlier report … can’t say we didn’t warn you!

https://caanhousinginequalitywithaussieslockedout.com/2020/01/28/until-it-happens-huh/?fbclid=IwAR2_qgrdT56GKAQd8nzOQRWa8qWxedzBV0mqHv9ch80cS303ow_xSstan80

IVANHOE ESTATE DEMOLISHED … to Make Way for new O/S Residents …

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CAAN Photo: That’s how Ivanhoe Estate was before the wrecking ball came in to finish it off!

IN early April 2020 the NDT for the Daily Telegraph did a sympathetic story for the remaining tenants of Ivanhoe Public Housing Estate …

IVANHOE ESTATE was an architect designed Public Housing Estate of apartment blocks and townhouses set in amongst Australian bushland.

Demolition was to begin that week of 6 April even though some residents were still waiting for a replacement home!

The main road that cuts through the estate formed a community for these people over a mere 25 years before they learnt of their fate. It was a happy community conveniently located to the University, the Macquarie Park Shopping Centre, the Business and IT Park, with bus connections across Sydney! And modern housing!

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CAAN Photo: June long weekend the Ivanhoe Estate apartment blocks gone! Parkview 2 is rising in the background. That too had a nasty story behind it with tenants given little notice to get out! Who for? Cough … cough … Were some tenants left homeless? Why the haste when this development took years to eventuate?

The Liberal Coalition seems bent on demolishing any development aged more than 20 years … no matter that it was built to last as with the Bicentennial Projects of the stadiums and soon the Powerhouse Museum!

Ivanhoe demolished for two thirds private redevelopment … to dovetail with the Federal Government policy enabling developers to market housing projects 100% overseas particularly in China.

CHINA is now discouraging its people from returning to Australia … however the private redevelopment here would have already been purchased … will they onsell?

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CAAN Photo: The top end of the Estate facing onto Herring Road

Perhaps it has now dawned upon Australians that they are being moved along … to get out of the way … whether it be for Public Housing demolitions … or suburban communities rezoned for higher density for new ‘Permanent Residents’ to launder their ‘hot money’ …

IT would seem that since the NSW Liberal Coalition has largely – if not entirely – demolished our Public Housing that on this occasion the Social Housing Sector have managed to get a sizeable share of the 3000 dwellings … with 950 Social Housing! And 128 affordable rental homes allocated … said to all blend with the private development …

… admittedly this is a big stride for this government that normally only provides 5% affordable and/or social housing … because now it really has to do something about homelessness …

Some residents were still on site in 45 homes because they had not been provided with a suitable alternative.  The estate had only celebrated its 25th birthday when the tenants learnt of the Government’s plans …

Now after 28 years living in a home, and in a happy community it would be very distressing to be flung off in another direction, and to lose your community!

HEARTLESS!

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CAAN Photo: Praps it has been so heartless that some former tenants felt the need to express their feelings … ‘RIP FIENDS’ …

Read more!  Ivanhoe public housing estate at Macquarie Park set to be demolished

https://www.dailytelegraph.com.au/newslocal/northern-district-times/ivanhoe-public-housing-estate-at-macquarie-park-set-to-be-demolished/news-story/7838da778bbfe96feb529fca13237901?fbclid=IwAR0ebCf4Ybwsc_GGYGhERjFYzoAllzpBajfvFj3uIHasnDxxnpU6ax9jWSg