The media focus the past two weeks has been the growing ‘great divide’ between those who own property and those who don’t.
Two articles in The New Daily caught my eye (quoted below).
Are you a frustrated buyer, arriving at open homes only to learn the property is already under contract?
Here’s the thing: Even after obtaining a contract of sale we can’t advertise it as ‘under contract’ until that contract is unconditional, and a good agent continues to market a property until this is so. Because anything can happen…
Australian resident vendors selling real property will need to obtain a Clearance Certificate from the ATO to ensure they don’t incur a 12.5% withholding tax.
It applies to all vendors in all states and territories, to all property (residential and commercial) and other asset classes to all properties with a contract price of $750,000 or more (the previous applicable value was $2m or more).