New analysis reveals the extent of the “corporatisation” of Australian water. 

As of June 2019, almost 14 per cent of all agricultural land is held by foreign companies. 

These foreign residents are exempt from capital gains tax on water profits, which allows foreign-owned agribusinesses some major advantages over Australian farming families. 

Australia’s Register of Foreign Ownership of Water Entitlements (PDF) shows that in 2018, over 10 per cent of Australia’s water entitlements had some degree of foreign ownership.

China and the US are the major foreign owners, holding about 2  per cent each, while UK investors are in control of 1.1 percent.

Many advocates are pushing for changes, including having some fee to replace the capital gains tax that foreign companies avoid on water deals. 

They are also pushing for a higher level of transparency around water ownership. A detailed analysis is available here.