For just these reasons we’ve seen a raft of new 'non-voter' taxes being imposed on foreign investors by both the State and Federal Governments.  But all this showing of teeth by Government - in the guise of protecting our housing affordability, has successfully scared off many prospective buyers in markets that are in dire need of a strong sales pipeline. The recent release of the Foreign Investment Review Board (FIRB) approval figures for foreign residential purchases for the 2016/2017 year, show a dramatic decline from the prior year of 67.1%.