Bright-Line Test & Interest Deduction Changes in Residential Rentals
Tax Changes Without any real warning the Government has targeted residential property investors with significant tax changes in an attempt to cool the housing market growth. In bullet point we set out the changes to the bright-line test and interest deductions on residential rental property. We will follow up when more detail is available. Brightline […]
Government Releases Details On Housing Tax Changes
[et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”3.22″][et_pb_row admin_label=”row” _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text admin_label=”Text” _builder_version=”4.9.10″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” hover_enabled=”0″ sticky_enabled=”0″] On 10 June, the Government released a 143-page discussion document providing further insight on how it will be limiting the deductibility of interest on residential investment property. The Government confirmed that interest deductions will generally no longer […]
Budget 2021 – Budget at a glance
The government has announced the Well-being Budget 2021, focusing on ‘securing our recovery’ with heavy investment in health, welfare, and infrastructure but for most business owners there were no substantial new initiatives to help continue their recovery in a COVID-19 world. Welfare Budget 2021 brings an increase to the weekly main benefit of between $32 […]