Budget 2017: 5 things property investors need to know

Budget 2017: 5 things property investors need to know

 

  1. Capital gains tax discount

You can still get a discount of 50 per cent if you sell your property, but only if you have held it for more than a year.

 

  1. Negative gearing tax break

You can still claim expenses, including interest, against your tax bill.

 

  1. Downsizing and superannuation

If you are over 65 and sell your family home, you can deposit $300,000 into your super fund as a non-concessional (post-tax) contribution.

 

  1. First-home-buyers

If you are a buying a home for the first time, you can use voluntary superannuation contributions to save for a home deposit, up to a maximum of $15,000 per year, or $30,000 in total.

 

  1. Tax deductible expenses
  • You can no longer claim expenses such as flights and hire cars to visit your rental property.
  • You can no longer claim plant and equipment expenses purchased by a previous owner of the property.

 

28 June 2017

 

Disclaimer: this article contains information or advice of a general nature only and is not intended to replace professional legal advice.

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