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Aussietravelcover W o r l d w i d e T r av e l I n s u r an n c e Contents PART 1 — FINANCIAL SERVICES GUIDE 1 Financial Services Guide PART 2 — PRODUCT DISCLOSURE STATEMENT International Travel
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W O R L stands for Withholding on Real Estate Transactions, which is a tax provision in some jurisdictions that requires the purchaser of real estate to withhold a percentage of the sale price and remit it to the tax authorities.
The purchaser of real estate is required to file W O R L and remit the withholding amount to the tax authorities.
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The purpose of W O R L is to ensure that tax is paid on real estate transactions by requiring a withholding amount to be remitted to the tax authorities at the time of sale.
W O R L typically requires details such as the sale price of the real estate, the withholding amount, the names of the buyer and seller, and other relevant information about the transaction.
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