The Australian budget introduced changes to negative gearing rules, where properties held before budget night until July 1st can still claim negative gearing, newly purchased properties between budget night and July 1st can only claim negative gearing within that period, and properties purchased after July 1st must carry forward any negative gearing losses, while newly built properties can continue claiming negative gearing indefinitely.
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Negative Gearing Rules ChangeAdded:
One of the largest changes that came out of this week's budget is the changes to negative gearing. So, what does this mean for property investors? Properties held before bud budget night all the way up until 1st of July and onwards can still claim negative gearing. Any newly purchased properties from budget night to 1st of July can only claim negative gearing within that period. For those newly purchased properties after 1st of July, they do have to switch over and carry forward any negative gearing they do make. For newly built properties, they can still claim negative gearing from budget night until indefinitely.
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