A month ago we blogged about the changes to come into force from 1 July 2016 for Vendors selling properties worth $2 million or more.
The online form has been released today and can be accessed here.
Summary of changes
As the new requirements are only days away from coming into force, we set out some of the key points which will apply to all contracts exchanged after 1 July 2016 with a sale price of $2 million or more.
Online lodgement
From 27 June 2016 the Applicaiton Form should be available for online lodgement. Vendors can either complete and lodge the form themselves or have it completed and lodged by a third party on their behalf, e.g. solicitors and tax agents.
Find out more
If you are a prospective Vendor thinking about selling a property with a value of $2 million or more, you may like to read more about the process on the ATO’s website. You can also give us a call if this issue will affect you in a proposed sale, we would be happy to assist with all of your conveyancing needs.
clicklaw.com.au