Tax reforms to affect real estate transactions involving foreign residents: Settlement agents bulletin issue 56 (June 2016)

29 June 2016

From 1 July 2016, sellers of real estate with a market value of $2 million or more will need to apply for a clearance certificate from the Australian Taxation Office (ATO) in order to receive all proceeds of the sale.

This follows the introduction of new taxation legislation which imposes a ten percent withholding tax on foreign residents selling property of this value.

Tax reforms to affect real estate transactions involving foreign residents: Real estate bulletin issue 116 (June 2016)

29 June 2016

From 1 July 2016, sellers of real estate with a market value of $2 million or more will need to apply for a clearance certificate from the Australian Taxation Office (ATO) in order to receive all proceeds of the sale.

This follows the introduction of new taxation legislation which imposes a ten percent withholding tax on foreign residents selling property of this value.

Notice of committee’s resolution to change rules

Form 5A

Use this form to record amendments made to an incorporated association’s rules (also known as the constitution) in order to comply with the Associations Incorporation Act 2015 (the Act) requirements.  The changes may be passed by the committee of management.

WARNING: It is an offence to fail to lodge within 28 days of the resolution, unless the Commissioner for Consumer Protection has granted further time under section 200(4).

Application for declaration of an association’s financial tier

Form 13

Use this application form to classify an incorporated association’s financial tier under the Associations Incorporation Act 2015 (the Act) as its usual size (Tier 1 or Tier 2) even if its revenue has changed due to an unusual and non-recurring event.

This form must be submitted during the financial reporting period in which the unusual event occurred or within three months of the financial reporting period ending.