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Australia Consults on Draft Determination on Foreign Resident Capital Gains Withholding Tax Credit

|Proposed Changes|Australia
Australia

The Australian Taxation Office (ATO) has published a draft determination CRP 2017/D1 for consultation concerning claims for a credit for Foreign Resident Capital Gains Withholding (FRCGW). The FRCGW (10%) was introduced from 1 July 2016 as a non-final withholding tax where a foreign vendor sells Australian real property ({News-2016-02-25/A/2- previous coverage}). CRP 2017/D1 modifies the operation of the crediting provisions to ensure that a credit for an amount paid to the Commissioner under…

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