Law Companion Ruling LCR 2016/6A3

What this ruling is about: Omit the preamble; substitute 2. Paragraph 1 Omit footnote 1. 3. Paragraph 3 After the paragraph, insert new paragraph 3A: 4. Paragraph 4 (a) Omit the wording of the paragraph (excluding footnotes 2 and 3); substitute: (b) After 'relevant foreign resident', insert new footnote 1A: (c) Omit footnote 4. 5. Paragraph 7 (a) Omit the wording of the paragraph; substitute: (b) After 'section 14-235', insert new footnote 5A: (c) After 'valued at $750,000 or more', insert new footnote 5B: (d) After '(with no threshold).', insert new footnote 5C: 6. Paragraph 8 (a) Omit '12.5%'; substitute '15%'. (b) In footnote 6, omit '1 July 2017'; substitute '1 January 2025'. 7. Paragraph 12 Omit 'CGT asset(s)'; substitute 'CGT assets'. 8. Paragraph 15 Omit the wording of footnote 11; substitute: 9. Paragraphs 28 and 29 Omit ' 2017 '; substitute ' 2025 '. 10. Paragraph 34 Omit ' $950,000 to the Commissioner on 30 September 2017 '; substitute ' $1.14 million to the Commissioner on 30 September 2025 '. 11. Paragraphs 35 and 36 (a) Omit ' 2017 '; substitute ' 2025, '. (b) Omit ' Components Ltd '; substitute ' Components Co '. 12. Paragraph 41 Omit ' Components Ltd withholds and remits $1.1 million to the Commissioner on 30 September 2017 '; substitute ' Components Co withholds and remits $1.32 million to the Commissioner on 30 September 2025 '. This Addendum applies from 1 January 2025. Commissioner of Taxation 29 July 2026 © AUSTRALIAN TAXATION OFFICE FOR THE COMMONWEALTH OF AUSTRALIA You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).






This Addendum is a public ruling for the purposes of the Taxation Administration Act 1953 . It amends Law Companion Ruling LCR 2016/6 to reflect amendments made by the Treasury Laws Amendment (2024 Tax and Other Measures No. 1) Act 2024 . | LCR 2016/6 is amended as follows: | If this Ruling applies to you, and you correctly rely on it in good faith, we will apply the law to you in the way set out in this Ruling. That is, you will not pay any more tax or penalties or interest in respect of the matters covered by this Ruling. | 3A. All legislative references in this Ruling are to Schedule 1 of the Taxation Administration Act 1953 , unless otherwise indicated. | 1A Section 14-210 sets out whether the vendor is a foreign resident for the purposes of the withholding obligation. | 5A Subsection 14-235(2) allows the Commissioner to vary a particular amount payable by a specific purchaser, while subsection 14-235(5) allows the Commissioner to vary the amount payable by a class of purchasers (a class of amounts). | 5B The withholding threshold reduced from $2 million to $750,000: Treasury Laws Amendment (Foreign Resident Capital Gains Withholding Payments) Act 2017. | 5C Treasury Laws Amendment (2024 Tax and Other Measures No. 1) Act 2024 . | For further guidance on market valuation, refer to Market valuation of assets .