Thinking of selling? Don't Let Paperwork Delay Your Sale..
Don't Let Paperwork Delay Your Sale – Get Your Clearance Certificate Early
When selling residential property in Camira, Brookwater, Greater Springfield, or anywhere in Queensland, there’s one important step many sellers miss – securing an ATO-issued Clearance Certificate.
What is a Clearance Certificate and Why Do You Need It?
Australian tax law requires sellers to prove they are Australian tax residents. Without a Clearance Certificate, the buyer must withhold up to 15% of the sale price and send it to the ATO. That’s a significant amount you might need for your next move.
Who Needs One?
If your name is on the property title, you need a Clearance Certificate – whether you’re selling your long-time family home or a recently purchased investment. This applies to individuals and some entities like companies or trusts.
A Real Example: Timing Matters
Imagine Willow and Stanley are selling their Brookwater home. Willow applies early and gets her certificate. Stanley delays and doesn’t have his by settlement – meaning the buyer must withhold 15% of Stanley’s share until he sorts it out with the ATO. Stressful and easily avoidable.
Good News – The Process is Simple
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It’s free.
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It’s usually processed within a few days (allow up to 28 days).
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It’s valid for 12 months.
You can apply yourself online, or your agent, solicitor, or tax agent can assist.
Key Tips for Sellers:
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Apply early – ideally when you start thinking about selling.
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Ensure your name matches the property title exactly.
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Each seller must have their own certificate.
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Keep a copy ready to provide at settlement.
At iNest Property Solutions, we do more than sell homes – we prepare you for success. Our experienced team will guide you through every step, including crucial paperwork like Clearance Certificates.
Need assistance with the application or have questions?
Reach out to us today. We’re here to make your sale as smooth and stress-free as possible.