Legislation changes made on the 1 July 2019 will now deny deductions for some rental properties.
This new legislation affects properties that have not been acquired second-hand. Therefore, if you are the first owner and the property is not available for rent then expenses incurred during this period will no longer be deductible to you.
The situation of rental property not being available for rent can arise when the property:
- is being constructed;
- has been taken off the market while being repaired or renovated; or
- is simply vacant prior to being sold.
For more specific information, please call our office on (08) 9240 7211 or Carlo on 0407 771 141.
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