Non-resident CGT withholding clearance certificates and variation notices

The ATO has issued the application form for use by Australian resident property vendors to obtain a capital gains withholding clearance certificate. Under new rules that apply from Friday 1 July, purchasers of taxable Australian real property from foreign resident vendors will be required to pay 10 per cent of the purchase price to the ATO.

The application form is used to notify the ATO that foreign resident capital gains withholding does not need to be withheld from the sale of the property because the vendors are Australian residents.