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Business Innovation and Investment Program: Getting a better deal for Australia

​​​​​​​​​​​​​​Overview

The consultation paper Business Innovation and Investment Program: Getting a better deal for Australia ​ was released by the Department to seek views on whether:

  • there are opportunities to streamline the Business Innovation and Investment program (BIIP) to maximise the value the program generates
  • increased investment thresholds and different investment types could provide better economic benefits to Australia compared to the current settings used for the Investor visa (IV) and Significant Investor visa (SIV)

The consultation concluded on 14 February 2020.

Reviewing the Complying Investment Framework

On 17 December 2020 the government announced key changes to the Business Innovation and Investment Program as a part of getting a better deal for Australia. Details of key changes are available in the Minister’s media release. In this announcement, the Government committed to further consultation with industry to inform any further changes to the Complying Investment Framework (CIF).

Complying Investment Framework​ 2021​ discussion paper

Providing a submission

We welcome written submissions in response to the consultation questions. Please send your submission to us by email: ICAP@homeaffairs.gov.au​ by close of business 17​ February 2021, and address it to: 

The Director, Skills and Innovation Policy Section​

Submissions received after this deadline may not be considered. Please note that we intend to publish submissions and share the content with other parties such as state and territory governments or other Commonwealth agencies. Please advise in your submission if you do not want it to be shared outside the Department of Home Affairs.

Review Findings Report

The Government ​intends to put in place measures aligned with the findings in this review from July 2021. They will ensure the BIIP is well-placed to support Australia’s post-COVID-19 economic recovery by maximising its economic contribution.

Getting a better deal for Australia - Review Findings Report - December 2020

Submissions​

41 written submissions were received and nine roundtable discussions were held with a range of stakeholders, including state and territory governments, Commonwealth agencies, fund managers and migration agents. Public submissions have been published below.​

Government Agencies submissions released under Freedom of Information

​FOI Request: ​​​FA 2​0/02/01207

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