On 1 June 2017, Treasury Laws Amendment (Foreign Resident Capital Gains Withholding Payments) Bill 2017 was submitted to the Australian Parliament. The legislation implements measures proposed in the Budget 2017-18 to modify the foreign resident capital gains withholding payments regime by increasing the withholding rate from 10% to 12.5% and reducing the withholding threshold from AUD 2 million to AUD 750,000. Subject to approval, the changes will apply in relation to acquisitions of propert…