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

If you have sold property, you still need to include capital gains, losses or an exemption or rollover code in your income tax return.

NB: 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.

Need any further clarification? Contact us so we can help!