As we approach the end of the 2015/16 Financial Year, it is important to draw your attention to a legislative change that will impact on some property sales.
From 1 July 2016 property owners selling Australian real estate with a market value of $2 million or more will need to, if an Australian resident, apply for a clearance certificate from the Australian Taxation Office (ATO) to have available at settlement to ensure amounts are not withheld from the sale proceeds. The relevant form will be available on the ATO website by the end of June 2016.
Where a valid clearance certificate is not provided by settlement or the owner is a foreign resident, the buyer is required to withhold 10% of the purchase price and pay this to the ATO. To find out more click here.
Our Agency has another busy weekend of Auctions! This Saturday’s Auctions are as follows:
At 9:00 am, Agent Eliot Krause kicks off the action, with 7-9 Nicholas Court, Bli Bli being presented. This three bedroom home on an elevated corner block showcases hinterland views, with stunning polished hardwood floors on 749m2 block will delight!
4 Maroochy Waters Drive, Maroochydore is the next one up at 12 noon, marketed by Stacy Downey and Nikki Firmin – this elegant family home with expansive 20 metre wide water frontage in a dress circle location offers a truly enviable coastal lifestyle.
At 4:00pm, 26/2 Mary Street, Alexandra Headland will attract a large crowd. Agents Mark McGill and Lynette Cameron say this is the Golden Triangle’s most affordable penthouse with panoramic ocean views. Do not miss this!
29 Barbuda Circuit, Kawana Island marketed by Stacy Downey will be Auctioned at 5:00pm; this custom-designed luxury home offers the ultimate Island lifestyle and showcases the finest fixtures and fittings throughout, and boasts an absolute waterfront position.
The public are always welcome to attend all of our Auctions and open homes. We’d love to see you there! Enjoy the last weekend of Autumn; let’s hope this glorious weather continues into winter.