IMPORTANT ANNOUNCEMENT: Purchaser Purchasing 2million Plus Property From Foreign Vendors After 1 July 2016 Required REQUIRED To Pay 10% Of Sale Price T A.T.O.
The Commonwealth Government have introduced new legislation that received Royal Assent on 25 February 2016 which provides that where a foreign resident disposes of property for over 2 million dollars, 10% of the purchase price is required to be withheld by the purchaser and paid directly to the Australian Taxation Office (ATO). Through a certificate [...]