New Changes affecting the Sale of Properties – Broader application of requirement to have Foreign Resident Withholding Certificates
From 1 January 2025, all Australian tax residents entering into a contract to sell a property must have a clearance certificate. The certificate must be given to the purchaser at, or before settlement. If the purchaser does not receive a clearance certificate, they are obliged to withhold 15% of the selling price and remit it …