FRCGW - Foreign resident tax

Discussion in 'Property Market Economics' started by dragon, 25th Sep, 2019.

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  1. dragon

    dragon Well-Known Member

    Joined:
    24th Jun, 2017
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    Location:
    sydney
    Hi experts,

    how Foreign resident taxed for sales of house in Australia? do they need to pay tax for any sales or only for profit / Capital gain tax?

    How much do they need to pay? has anyone seen it?


    Capital gains withholding: Impacts on foreign and Australian residents

    Foreign resident capital gains withholding (FRCGW) applies to vendors disposing of certain taxable property under contracts entered into from 1 July 2016.

    The FRCGW tax rate is 12.5%.

    It also now applies to real property disposals where the contract price is $750,000 or more.
     
    dragon, 25th Sep, 2019
    #1
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