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By Anthony WardleyWhat are the rules? New rules take effect for taxable Australian real real property contracts signed from 1 July 2016 with a sale value of $2 million and over. The aim of these rules is to collect tax from foreign resident vendors at the time the property sale takes place, however these rules will still effect transactions that take place wholly between Australian residents. Under these new rules, property purchasers will be required to withhold 10% of the purchase price of... More...