Negative gearing changes and subdivision

Discussion in 'Accounting & Tax' started by Manic, 6th Apr, 2019.

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  1. Manic

    Manic Well-Known Member

    Joined:
    23rd Nov, 2015
    Posts:
    61
    Location:
    Melbourne
    Hi, i currently have an investment property (720m block) that i will look to subdivide once townhouses are built. I'm planning to start building in July 2019 and finish approx June 2020. Given the proposed negative gearing changes by labor, if i were to subdivide post January 2019, will the new lots still be grandfathered for negative gearing?

    Thanks.
     
    Manic, 6th Apr, 2019
    #1
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
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    Australia wide
    based on press releases it appears to be based on purchase date.
    Too vague to know at this stage
     
    Terry_w, 8th Apr, 2019
    #2