Capital Gains WithholdingFrom 1 July 2017 Australian residents selling Real Estate with a market
value of $750,000.00 or more will need to apply and produce a Clearance Certificate from the Australian Taxation Office (ATO) to ensure amounts are not withheld from the sale proceeds. Where a valid clearance certificate is not provided by settlement, the
purchaser is required to withhold 12.5% of the purchase price and pay this to the ATO. Each Seller (inc Company) must provide a Clearance Certificate, please be mindful that the clearance certificate must match the details on the Certificate of Title. The processing time for the issue of this certificate is 14-28 days and is valid for 12 months. To obtain a clearance certificate you must complete an online "Clearance Certificate application for Australian residents form", click on the button below: |
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CalculatorsClick the button below to be taken to the calculators page.
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