NEW PROPERTY WITHHOLDING RULES

As a Government initiative all contracts of sale signed on or after 1 July 2017 where the sale price is greater or equal to $750,000 require an ATO Clearance Certificate. Failure to obtain the Clearance Certificate will require the purchaser’s Conveyancer to retain 12.5% of the sale price at settlement e.g. 12.5% of the Sale Price of $750,000 = $93,750 withheld if no ATO Clearance Certificate is obtained. 

Your real estate agent or sales representative should ensure that you obtain the Clearance Certificate prior to or near the point of listing the property.

Clearance Certificates must be produced for all sales regardless of the origin, nationality or resident status of the Vendor(s)

As your Conveyancer, we can submit the Clearance Certificate application form on your behalf, and ensure that all information is correct. But we cannot complete the application for you.

Obtain an ATO Clearance Certificate from the ATO website.