The Australian government requires people who buy residential property from non-tax residents to withhold 12.5% of the purchase price and pay it to the ATO.
If:
- you are an Australian resident for tax purposes; and
- you sell your property for more than $750,000;
you must provide apply for a CGT clearance certificate from the Australian Taxation Office (ATO). Every individual named on the title must provide a separate certificate.
Apply online at the ATO’s website and send us a copy of your certificate as soon as possible. It may take several weeks to issue, so don’t delay.
If:
- you don’t provide a clearance certificate
or
- you aren’t an Australian resident for tax purposes; and
- you sell your property for more than $750,000;
the buyer must withhold 12.5% of the purchase price and remit it to the ATO.
