The Australian Taxation Office (ATO) has introduced rules that require purchasers of Australian Property costing $750,000 or more to withhold 12.5% of the purchase price and remit it to the ATO. This is to assist the ATO to collect foreign residents Australian tax liabilities.

Australian resident vendors can avoid the requirement to withhold the 12.5% by obtaining a clearance certificate and providing that to the purchaser prior to property settlement. If you need a clearance certificate we are able to process your application quickly and efficiently to ensure it is available prior to settlement (subject to conditions).

Should you require a clearance certificate please contact our helpful staff on 02 6588 4444 or via email northcorp@northcorp.com.au