ATO have developed instructions and guidance for property developers on how to apply for a new (or near-new) dwelling exemption certificate, and their obligations to correctly report on the sale of Australian residential property to foreign buyers.
Foreign persons (including temporary residents and foreign non-residents), who plan to invest in Australian real estate, may need to apply for foreign investment approval, or seek an exemption, before they purchase property in Australia.
Property developers (and other vendors) can apply for a new (or near-new) dwelling exemption certificate. The exemption certificate means that their foreign buyers (or clients) don’t need to seek their own individual foreign investment approvals, for the Australian properties covered by the certificate.
Read more about new or near-new dwelling exemption certificates by visiting ato.gov.au/DeveloperExemptionCertificates