Understandably, there is a lot of hype around negative gearing. It is a highly beneficial investment strategy, after all.
The amendments are not only retrospective but go beyond purely vacant land.
Most importantly, the accountant and broker should have a strong relationship because the two areas are much intertwined.
It’s not uncommon for landlords to be confused about what they can and can’t claim for their rental properties.
It is estimated that one in ten returns will contain errors in the 19/20 year.
In the 2018-19 financial year, one in four investors lived in their property before renting it out.