Foreign Resident Capital Gains Tax Withholding Archives

Foreign Resident Capital Gains Tax Withholding

One of the measures taken by the Australian government in the recent budget to balance the books was to crack down on foreign buyers avoiding capital gains tax (CGT) on the sale of real property. To this end, the foreign resident capital gains tax withholding (FRCGW) scheme has been adjusted in the following key areas: The purchase price of real property caught by FRCGW has been reduced to $750,000 from $2 million; and The...