25 Mar ATO poll shows nearly 50% of people don’t know they need a clearance certificate
| “ATO poll shows nearly 50% of people don’t know they need a clearance certificate Nearly half of people who responded to a poll on the ATO’s social media didn’t know you need a clearance certificate when selling property. All Australian residents selling or disposing of Australian real property must have a clearance certificate and give it to the purchaser at, or before settlement. Without a clearance certificate, the purchaser must withhold up to 15% of the sale (or market value if not sold at arm’s length) for foreign resident capital gains withholding (FRCGW) purposes. Get on the front foot and apply for one as soon as you think about selling. Learn more at ato.gov.au/clearancecertificate. ” |