Most purchasers of new residential premises or potential residential land are required to withhold an amount from the contract price for payment to the ATO.
Purchasers who are required to withhold must complete and lodge the following 2 online forms:
- Form one: GST property settlement withholding notification
- Form two: GST property settlement date confirmation.
You can lodge these forms using either:
the e-conveyancing platform Property Exchange Australia (PEXA) our online form.
Only lodge the forms once for each property contract.
If you're a property supplier, don't lodge these forms.
Note: We check our records against land titles information on property transactions. Failure to lodge forms or pay on time may result in penalties.