If an Australian resident is considering selling taxable Australian real property, they should apply for a clearance certificate. If you do not apply for a clearance certificate and present it to the purchaser, the purchaser withholds 12.5% of the purchase price on properties that have a market value of $750,000 or more.
You should complete and lodge the form with us as early as possible as it can take 28 days to process. You must provide the certificate to the purchaser on or before the day of settlement to ensure no withholding takes place. Each vendor should lodge their own application as you cannot lodge joint applications.
We encourage you to apply early. Once you have lodged your certificate, we cannot speed up the process time as we process requests based on the time we receive them. After processing your application, we will notify you of the outcome and contact you for more information if required.
If you have an upcoming settlement, lodge your application today.