This is a quick update noting that on 25 February 2016, the Australian Government has passed legislation imposing a 10% non-final withholding tax on payments made to foreign residents that dispose of certain taxable Australian property. This applies to contracts entered into on or after 1 July 2016.
Further details of the new foreign resident withholding payment regime are available in our previous article here.
This publication does not deal with every important topic or change in law and is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances. If you have found this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances please contact one of the named individuals listed.
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