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The new foreign resident CGT withholding tax – a cheat sheet

Publication date: 03 Mar 16 | Source: INTAX

Issue: March 2016

Pages: pp. 9-12


- When does the foreign resident CGT withholding tax come into effect?

- Which Australian real estate assets are caught by this WHT?

- What transactions are excluded from this WHT?

- Who is a foreign resident for these purposes?

- Foreign residency safe harbour rules

- TARP and company title interests

- Indirect Australian real property interests and options

- How much WHT does a purchaser have to pay?

- Variation notices

- When does a purchaser have to pay the WHT?

- What are the penalties for a purchaser for failing to withhold?

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Author profile

Dung Lam CTA
Dung is a Tax Team Leader at Coleman Greig Lawyers with many years of experience in advising on a wide variety of taxes, including income tax, CGT, GST and state taxes such as duty, payroll tax and land tax. Dung also has extensive experience advising on taxation trusts, superannuation issues in the SMSF arena and tax issues related to estate planning. Dung advises a broad range of clients ranging from corporates, SMEs, high net worth individuals, professional firms, accountants, financial planners and their clients. Dung is a Chartered Tax Adviser, Accredited Specialist in Personal and Business Tax with the NSW Law Society, a full member of the Society of Trust and Estate Practitioners, member of the Law Council Revenue Law section and a member of the NSW Law Society’s Liaison Committee with Revenue NSW. - Current at 31 March 2020
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