Tax policy could heighten rental crisis
Government plans to change the tax treatment of property investment are well under way.
The bright line test has been extended from two to five years, a proposal to change the rules around the tax deductibility of losses associated with the ownership of rental properties is making headway, and the Tax Working Group hard at work.
Government ministers say the policy changes are an attempt to level the playing field between speculators, investors and home buyers.
But Property Institute chief executive Ashley Church says policies like the “ring fencing” of property tax losses will have a disastrous impact on the property market.
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