SALE PRICE: anyone selling property in Australia for $750,000 or more must obtain a clearance certificate from the Australian Tax Office (ATO) prior to settlement of their property sale. If this clearance certificate is not obtained and provided to the purchaser before settlement, by law the purchaser must withhold 12.5% of the purchase and pay the amount withheld at settlement to the Commissioner of Taxation. If your property is expected to sell for $750,000 or more, each vendor will need to apply for the clearance certificate (this applies to each person on title) prior to settlement.