ATO Clearance Certificate now Required for Vendors Selling for $750,ooo or More
As from 1st July, 2017 all Vendors selling property over $750,000 will be required to obtain a Clearance Certificate from the Australian Taxation Office. This is an initiative to prevent Foreign Residents from selling for a profit and leaving Australia without paying capital gains tax. Unfortunately, this does mean more paperwork for us all, but it’s the law and hopefully it will help keep Australian dollars in our Country. A link to the Online Application for this Clearance Certificate can be found on our Forms page.