As part of the 9th of May 2017 federal budget, the Australian Government proposed amendments to legislation relating to plant and equipment (division 40) deductions. The proposed changes, outlined in Treasury Laws Amendment (Housing Tax Integrity) Bill 2017 , have now been legislated after being passed by the Senate on the 15th of November 2017….
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Depreciation changes for investment property This article has been provided by BMT Quantity Surveyors This month, the government released draft legislation regarding the proposed changes to plant and equipment depreciation as announced in the May federal budget. The draft outlined further details around a property investor’s eligibility to claim depreciation and provided…
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The cost to the federal budget of negatively geared rental property deductions has fallen 12.5 per cent to $10.9 billion, the lowest level in four years because of record low interest rates. A the start of a federal election campaign in which negative gearing will be a key issue, the latest Tax Office statistics show the country’s two million landlords claimed interest deductions of $21…
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