FIRB
Foreign Investment Review Board
Non Australian Residents may be restricted from acquiring investments in Australia, the rules are explained on the FIRB website.
Land (non rural) zoned residential
Where the shareholders of a Australian Company that has acquired land are either Australian shareholders or if any foreign shareholders owned either 14% of the shares in the Company (i.e. less than 15%) or a combined aggregate interest of less than 40% of the shares in the Company then Foreign Investment Review Board approval is not required.