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Publications on this website are provided as a service to clients, colleagues, and others for general information only. This information is not designed to provide legal or other advice or create a lawyer-client relationship. You should not take, or refrain from taking action based on its content.

Important CGT changes from 1 July 2017

All Vendors for land sales over $750,000 will need a clearance certificate in relation to Capital Gains Tax from the Australian Tax Office from 1 July 2017 - the current threshold is $2,000,000. All agents and prospective vendors should be aware of these changes, as it could have a serious effect on the sale of their property and tax affairs. https://www.ato.gov.au/general/new-legislation/in-detail/direct-taxes/income-tax-on-capital-gains/foreign-resident-capital-gains-withholding-payments/

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