Company 123

Australian residents selling real property will need to obtain a clearance certificate prior to settlement to avoid incurring the 12.5% non-final withholding tax that is applicable to foreign residents. The Australian Taxation Office (ATO) requires 12.5% of the sale price to be withheld by the purchaser unless the vendor produces the clearance certificate indicating that they are an Australian resident.

New rules for foreign resident capital gains withholding (FRCGW) apply to vendors disposing of certain taxable property under contracts entered into from 1 July 2017. The changes will apply to real property disposals where the contract price is $750,000 and above (previously $2 million) and the FRCGW withholding tax rate will be 12.5% (previously 10%).

Please call (03) 98320660
to speak to a Property Withholding Clearance
Certificate Specialist

Transaction dates

Contract date

Expected settlement date

Please, enter settlement date

Has your residency status changed since your last tax return or will it change before you sell the asset?

Yes No Please select one of the variants

Have you lodged an Australian tax return for the last two years?

Yes No Please select one of the variants

Are you holding the property on behalf of a foreign resident or on behalf of other entities that include a foreign resident?

Yes No Please select one of the variants

Select the declaration that applies to you:

I declare that I am the vendor named in this form and the information contained in this form is true and correct OR
I declare that:

I am an agent or registered tax agent authorised to complete this form on behalf of the entity
the form has been prepared in accordance with the information supplied by that entity
I have received a declaration from that entity, stating that the information provided to me is true and correct, and
I am authorised by that entity to give this form to the Commissioner of Taxation

Please select one of the variants

Name

Can't be blank

Date

Please, enter the date of declaration

Vendor details

Transaction dates

Contact person

Clearance certificate application questions

Entity – Individual

{{fields.individualEntity.migratingOrSettledInAustralia | yesno}}

{{fields.individualEntity.australianReturningToLiveInAustralia | yesno}}

Employment contract or permanent employment

Exchange program or full time research

Full time education

Holidaying or casual employment

Visiting friends or relatives

Other reasons

Staying with family, friends Hotel, motel, hostel or caravan

Hotel, motel, hostel or caravan

University campus

Own or buying a home

Renting or leasing accommodation

Currently living with you

Remaining overseas

Coming to live with you

Some with you and some remaining overseas

Australia

Overseas

{{fields.individualEntity.hasBeenInAustraliaForFixedPeriod | yesno}}

{{fields.individualEntity.usualPlaceIsOutsideOfAustralia | yesno}}

{{fields.individualEntity.willTakeUpResidenceInAustralia | yesno}}

Entity – Trust

{{fields.trustEntity.australianResidentsHoldMoreThanHalfProperty | yesno}}

Entity – Trust

{{fields.companyEntity.votingPowerControlledByResidentsInAustralia | yesno}}

Entity – Super fund

{{fields.superFundEntity.conditionForHalfIsResidentsOfAustralia | yesno}}

Declaration :

I declare that I am the vendor named in this form and the information contained in this form is true and correct

I declare that:

I am an agent or registered tax agent authorised to complete this form on behalf of the entity
the form has been prepared in accordance with the information supplied by that entity
I have received a declaration from that entity, stating that the information provided to me is true and correct, and
I am authorised by that entity to give this form to the Commissioner of Taxation