The ATO wants taxpayers to know that having a foreign resident capital gains withholding (‘FRCGW’) clearance certificate does not mean they do not have any further CGT obligations.

If taxpayers have sold property, they still need to include capital gains, losses or an exemption or rollover code in their tax return.

Editor: If an amount of FRCGW was withheld from the property sale, you should let us know and provide the ‘FRCGW payment confirmation’ from the purchaser.

Where you have lived in a property for any period during your ownership period you should provide us with the full details so we can determine the correct application of the main residence exemption.

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Exciting News! Muntz Partners is Rebranding to Acclaim Accounting

We are thrilled to announce that Muntz Partners is now known as Acclaim Accounting.

This change reflects our commitment to providing you with even better services and experiences.

Stay tuned for more updates as we embark on this exciting journey together!

Note: The change took effect on May 15th 2024.