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Is your residential investment property affected by the new legislation passed last week?

The new legislation passed on Wednesday, 15 November will impact property investors who purchased second hand residential properties where the contracts were exchanged after 7:30pm on 9 May 2017 (Budget night). Under the new laws, residential investment property owners will be ineligible to claim depreciation on existing plant and equipment assets. This denies property investors from claiming income … Continue reading “Is your residential investment property affected by the new legislation passed last week?”