Canada, the USA, China and United Kingdom are the largest foreign owners of Australian water. A new report, released by the Australian Tax Office (ATO), will show that foreign ownership of water increased by 0.3 per cent in the year to June 2022. It shows that Canada holds 2.1 per cent of all Australian water entitlements, the USA 1.8 per cent, with China and the United Kingdom each holding 0.8 per cent.