Buying or Selling Property? Beware of the Capital Gains Tax Withholding Rules
If you are buying or selling real estate situated in Australia for $750,000 or more, it is important to be aware of the the Capital Gains Tax Withholding rules. With effect from 1 July 2017, for any real estate transactions of $750,000 or above, the vendor must provide to the purchaser, prior to settlement, a “clearance certificate” obtained from the ATO. Without this, the...