Submitted about 2 years ago by Alan Barry
I have just read an article by our Auditor; Simeoni that is extremely important if you are buying or selling real property in Australia after the 1st July 2016.
New rules to prevent foreign residents avoiding tax when they sell Australian property will affect everyone buying or selling property with a market value of $2 million or more from 1 July 2016.
What "property" is affected by the new rules?
The new withholding rules capture:
Please read the whole article in the Simeoni Newsletter