Registry for foreign water ownership

Australians will have a better understanding of how much of the nation's water entitlements are owned by foreign entities under draft laws to establish a national registry.

Treasurer Scott Morrison on Wednesday introduced to parliament legislation to establish the Australian Taxation Office managed register, which aims to improve transparency.

"Regardless of the debate about what level of foreign ownership is ideal, the benefit of the water register will be to provide greater transparency and understanding of the actual levels of foreign ownership in water," he said.