ATO Clearance Certificates for Property Sales over 2 Million

WELCOME TO ANTHONY RASO & ASSOCIATES LAWYERS Forums Join the discussion about Buying Property ATO Clearance Certificates for Property Sales over 2 Million

This topic contains 0 replies, has 1 voice, and was last updated by  al_admin 3 years, 2 months ago.

Viewing 1 post (of 1 total)
  • Author
    Posts
  • #517

    al_admin
    Keymaster

    As of the 1st of July 2016 anyone selling a taxable property in Australia valued at 2 million or more will require a clearance certificate from the ATO. If a clearance certificate is not provided by the Vendor to the Purchaser, then the Purchaser is required to withhold 10% of the purchase price for the ATO.

    There is no fee for a clearance certificate and it lasts for 12 months, but failing to get one could delay settlement and lead to penalties.

    • This topic was modified 3 years, 2 months ago by  al_admin.
Viewing 1 post (of 1 total)

You must be logged in to reply to this topic.

Subscribe to our legal services newsletter