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Changes to Foreign Resident Capital Gains Withholding

Changes to Foreign Resident Capital Gains Withholding

By Property and Environmental Law Section

ATO Capital Gains Tax Conveyancing Real Property Taxation 

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On 9 May 2017, the Government announced proposed changes to the foreign resident capital gains withholding (FRCGW) rate and threshold. The changes will apply to contracts entered into on or after 1 July 2017:

  • for real property disposals where the contract price is $750,000 and above (currently $2 million)
  • the FRCGW withholding tax rate will be 12.5% (currently 10%).

The existing threshold and rate will apply for any contracts that are entered into before 1 July 2017, even if they are not due to settle until after 1 July 2017.

Contact

LIV Ethics & Professional Practice Department

T: 9607 9378

Property and Environmental Law Section

E: property&environment@liv.asn.au
T: 9607 9522


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