AusFinance

1349 readers

8 users here now

founded 2 years ago

MODERATORS

lodion@aussie.zone

Los@beehaw.org

Find out if you're among the budget's winners or losers (www.abc.net.au)

submitted 1 week ago by Eyekaytee@aussie.zone to c/ausfinance@aussie.zone

6 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] No1@aussie.zone 2 points 1 week ago* (last edited 1 week ago) (1 children)

Edit: now seeing different info re my assessment below. Seems to depend on which channel I'm watching.

If I understand correctly, the housing CGT and negative gearing kicks in July 2027. (edit: one or both may be from today, getting inconsistent info)

(Edit: if not) That is gonna set the housing market on fire for the next year, to get into grandfathered properties before the changes take effect.

Anyone thinking of buying in the next year, think again, or drastically lower your expectations.

And with the additional tax on Super > $3M, they will be yanking it out of super and throwing it into investment properties to get the last of the CGT and negative gearing deductions.

[–] Dimand@aussie.zone 2 points 1 week ago (1 children)

It's not clear to me from the ABC article that it will be grandfathered in for any purchases pre July 2027.

[–] No1@aussie.zone 1 points 1 week ago

Yeah, not sure now either re CGT or -ve gearing.

Initial info only mentioned July 27, but subsequent articles say 'from date of budget'.

We'll see.