Hi,

Capital Gains Withholding Provisions change on Saturday, 1st July 2017, in respect of both the sale price threshold and the withholding percentage.

For the sale of all properties where:

• The sales contract is entered into on or after 1st July 2017; and
• The contract price is $750,000 or more (currently $2,000,000);

the Purchaser must withhold 12.5% (currently 10%) of the purchase price and pay such monies to the Australian Taxation Office (ATO) on or before settlement, unless the Vendor has obtained a Clearance Certificate from the ATO (Taxation Administration Act 1953 (CTH) - Subdivision 14-D).

The existing threshold and rate will apply for any contracts that are entered into before 1st July 2017, even if they are not due to settle until after 1st July 2017.

For more information about the new provisions click here

We have updated the sales threshold and withholding rate, to reflect the new amounts, in the 'Withholding - Capital Gains' Special Condition (for use on our sales contracts) and in the Item Schedule of all Selling Agency Authorities. These changes will be released in ADLForms on Saturday 1st July 2017.

IMPORTANT (Using Templates):

Before using a template that includes an old version of the 'Withholding - Capital Gains' Special Condition, when creating a new Sales Contract, ensure you:

1. Open the saved template
2. Replace the old special condition with the new one provided by ADL Software to reflect the new withholding threshold amount and withholding percentage value
3. Save the updated template

The changed forms are:

• AUVICRECM001 Exclusive Selling Agency Authority - Commercial
• AUVICRECM002 Exclusive Auction Agency Authority - Commercial
• AUVICRECM003 General Selling Agency Authority - Commercial
• AUVICRECM004 Exclusive Selling Agency Authority - Business Broking
• AUVICRECM005 General Selling Agency Authority - Business Broking
• AUVICRECM012 Contract of Sale of Real Estate (Commercial)
• AUVICRECM019 Contract of Sale of Business
• AUVICREPS001 Exclusive Selling Agency Authority - Residential
• AUVICREPS002 Exclusive Auction Agency Authority - Residential
• AUVICREPS003 General Selling Agency Authority - Residential
• AUVICREPS006 Contract of Sale of Real Estate (Residential)
• AUVICREPS011 Exclusive Selling Agency Authority - Residential (No Rebate Statement)
• AUVICREPS012 Buyers Agency Authority - Residential

1. Updating ADLForms

ADLForms should automatically update to allow access to the new forms and the latest version of the software (9.4.6) when you first open ADLForms on Saturday 1st July. If this does not occur then:

1. Click the 'Update' button from the main menu of the program. Please allow a few minutes for the forms and/or program to download and install.
2. If this fails to update your forms then:
   • Select Tools -> 'Re-initialise ADLForms’ from within the Main Menu of the ADLForms program. This will close the program.
   • Restart ADLForms and click the 'Update' button.
3. If you still do not have the updated forms click here to download and re-install ADLForms.
4. If all the above do not result in a successful forms and program update please contact our tech support team for assistance.

• View Details of ADLInspect
  the Ultimate Handheld Property Inspection Software
• Install or Update ADLForms
• View and Print a Full List of Forms
• View and Print Testimonials