Ring Fenced Losses for Residential Land
You may have heard through the media that there is currently a draft bill before parliament which proposes to ring fence losses for residential land / rental properties.
What this means for property investors is that losses from rental properties, or losses from the sale of residential land, will no longer be able to offset any other type of income. Those losses will instead be “ring fenced” and will only be offset against future rental property profits.
This new legislation is expected to take affect from 01 April 2019.
Please contact us if you would like to discuss your current position and how this bill may affect you or if you are thinking about buying or selling a rental property.