Image for NATION, STATE: $280m Van Diemen’s Land Company sale decision

TREASURER Scott Morrison has approved the $280 million sale of the Van Diemen’s Land Company to Chinese company Moon Lake Investments on the condition that it complies with Australian Taxation law.

Mr Morrison said that the Foreign Investment Review Board had approved the sale.

“In forming my view I have carefully considered the national interest test and how it applies to this case, including the likely impact on local jobs and increased investment to support economic growth,” he said.

“In particular, the national interest test requires consideration of the impact on taxation revenue.”

Liberal Senator Eric Abetz described the “cringe worthy” campaign against the Chinese purchase as a “bizarre almost xenophobic campaign”.

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• What Peter Whish-Wilson, Richard Colbeck, TFGA etc reckon ... in Comments ...

• Peter McGlone in Comments: Foreign Investment Review Board fails to see Tasmanian devils as being in the national interest ...

• Jacqui Lambie in Comments: … Politicians like Liberal Senator Eric Abetz knows that more questions have to be asked about investment money from China because there’s a much higher risk that it is from corrupt or illicit source. Senator Abetz tries to stop community discussion about the risk of corrupt Chinese money adversely affecting Australia’s national interest – by calling whistle-blowers racists and xenophobes.” said Senator Lambie. “You have to ask what this Liberal politician and his political mates are trying to hide when they resort to that sort of low name calling? Of course it is a well-known fact that the Liberals have taken millions of dollars from people closely connected with the Chinese Communist government in election funding. …

• Gerard Bell in Comments: … And VDL is an Australian icon.  It holds cultural significance as being the first (and last standing) company created in Tasmania by Royal Charter and was a driving factor in the creation of the agriculture in Tasmania.  It is also a significant habitat for a singular species of marsupial found no-where else on EARTH!  And yet they (VDL) will apparently be permitted to clear another 1800ha (35%) of Devil Habitat to satisfy China’s demand for dairy products.  You’ve Got To Be Kidding!  ... ‘Value for Australia’ cannot just be reduced to a monetary value, otherwise we’ll become a financially secure (for a limited few) but a soul-less country.  I for one do not want that!  Keep it up Treasurer, your making it so easy for the public to decide the outcome of the next Federal Election. …