This generation now owns almost a third of all rental properties
The budget restricted negative gearing to new builds and returned CGT concessions to the pre-1999 system of taxing inflation-adjusted increases in asset values.At a Senate inquiry this week, the property sector warned rents could rise by up to $9 a week because of the impact of the proposed changes on landlords. Of that group, 170,000 were 60 or older, and nearly one in 10 was under 30.By 2023-24, however, over-60s accounted for 27.5 per cent of 2.3 million landlords, holding interests in 642,000 properties. There are now a record 9241 people aged 60 or older with interests in six or more properties, a jump of 595 people in a single year.
- ▪The budget restricted negative gearing to new builds and returned CGT concessions to the pre-1999 system of taxing inflation-adjusted increases in asset values.At a Senate inquiry this week, the property sector warned rents could rise by up
- ▪Of that group, 170,000 were 60 or older, and nearly one in 10 was under 30.By 2023-24, however, over-60s accounted for 27.5 per cent of 2.3 million landlords, holding interests in 642,000 properties.
- ▪There are now a record 9241 people aged 60 or older with interests in six or more properties, a jump of 595 people in a single year.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.