How more than 1 million landlords will escape negative gear changes
The recent federal budget changes will allow over 1 million landlords to avoid new negative gearing restrictions. These reforms include grandfathering provisions that exempt properties held before the announcement from immediate changes. The impact of these measures on property prices is expected to be limited in the short term.
- ▪More than 1 million landlords will be exempt from the budget's overhaul of property taxes.
- ▪The government's changes include restricting negative gearing to new homes and implementing a minimum tax rate on capital gains.
- ▪Properties held before the budget announcement will be exempt from negative gearing changes.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.