The Joint Committee of Public Accounts and Audit is holding its second public hearing tomorrow for the Committee's inquiry based on Audit Report No. 48 (2017-18), Managing Compliance with Foreign Investment Obligations for Residential Real Estate.
The Committee will hear from the Australian Taxation Office, the Department of the Treasury, and the Australian National Audit Office.
Committee Chair, Senator Dean Smith, said the public hearing will assess the effectiveness of the ATO's and Treasury's management of compliance with foreign investment obligations for residential real estate.
"The Committee will consider how foreign investment compliance arrangements by the ATO and Treasury were monitored and reported, and activities undertaken to address potential non-compliance."
The JCPAA is Parliament's joint public administration committee. It scrutinises the governance, performance and accountability of Commonwealth agencies, and has the power to inquire into all expenditure of Commonwealth money.
The Committee examines all reports of the Auditor-General tabled in the Parliament and can inquire into any items, matters or circumstances connected with these reports.
