Capital Gains Withholding
From 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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