Ep104. New ATO Rules For Sales Above $750,000 | by Brendan Homan
submitted by Brendan Homan
on 07/06/17
1
From July 1, Australian sellers of property over $750,000 will have to show they are an Australian resident by obtaining a “clearance certificate” from the Australian Tax Office. If this is not provided, then the buyer will be required to withhold 12.5 per cent of the purchase price and forward it to the ATO and the seller will not receive full payment for their property. Buyers could also face a penalty if they do not withhold when they should. … www.brendanhoman.com.au
