The 4 major banks and electronic Certificates of Title
March 2, 2017
Electronic Lodgement from 1 October 2018
March 21, 2019
If you’ve sold a property on or after 1 July 2017 for $750,000 or more, you will be liable to have 12.5% of your sale proceeds withheld at settlement by the purchaser and remitted to the Australian Taxation Office unless you provide an ATO Clearance Certificate to the purchaser before settlement. This Clearance Certificate if issued will state that you are not a foreign resident, and are thus exempt from this withholding tax. To obtain a Clearance Certificate, go to https://www.ato.gov.au/FRWT_Certificate.aspx
Contact Glenferrie Conveyancing Northcote or call us on (03) 9815 2351 for more information.
Andrew Rothfield
Andrew Rothfield is a licensed conveyancer from Glenferrie Conveyancing. The company holds the prescribed professional indemnity insurance, maintains a general trust account, and is a leading subscriber to the PEXA electronic settlement system.
