14‑200 Certain acquisitions of taxable A14‑200 Certain acquisitions of taxable Australian property from foreign residents

#### 14‑200 Certain acquisitions of taxable Australian property from foreign residents (1) You must pay to the Commissioner an amount if: (a) you become the owner of a \*CGT asset as a result of \*acquiring it from one or more entities under one or more transactions; and (b) subsection 14‑210(1) (about foreign residents) applies to at least one of those entities at the time one of those transactions is entered into; and (c) at that time, the CGT asset is: (i) \*taxable Australian real property; or (ii) an \*indirect Australian real property interest; or (iii) an option or right to acquire such property or such an interest; unless a transaction referred to in paragraph (a) is excluded under section 14‑215. > Note: You must pay the amount on account of income tax possibly payable by the entities on their capital proceeds resulting from your acquisition of the CGT asset. (2) You must pay the amount to the Commissioner on or before the day you became the \*CGT asset’s owner. > Note: There are penalties for failing to pay the amount (see Division 16). (3) The amount to be paid to the Commissioner is: (a) unless paragraph (b) applies—an amount equal to 15% of: (i) the first element of the \*CGT asset’s \*cost base just after the \*acquisition, ignoring paragraphs 112‑36(1)(b) and (c) of the Income Tax Assessment Act 1997 (about the effect of look‑through earnout rights); less (ii) if the acquisition is the result of you exercising an option—any payment you made, and the \*market value of any property you gave, for the option (or to renew or extend it); or (b) the varied amount applying under section 14‑235. (4) This section does not apply if the amount that would otherwise be payable is nil.