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Foreign resident capital gains withholding payments*

Posted in Conveyancing and Property Law on 20 July 2017

Foreign resident capital gains withholding payments*
From 1 July 2016, the tax legislation has provided that purchasers of real property for $2m, or more, must withhold 10% of the purchase price and remit that sum to the Australian Taxation Office (ATO), unless the vendor can produce at settlement a “clearance certificate”.

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