Was the announcement about Capital Gains Tax what you were expecting this afternoon? Here's our latest update for you.
The announcement about Capital Gains Tax this afternoon was not what we were expecting.
However, the Bright Line Test is still in place (and has been since 2015). If you buy and sell within the first two years there are already tax implications. These do still stand.
Even without the Capital Gains Tax coming into force, it is still a timely reminder to ensure you are getting good advice from your trusted professional advisors - before you decide to buy or sell an investment property in the future.
There are also other things to keep in mind, have you considered improving your investment? This could be the time to do it! With a fresh renovation weekly rent is going to increase and you are going to be closer to being compliant with the further Healthy Home Standards coming into effect in some cases from as early as late this year. This includes higher levels of insulation than previously set, heating, ventilation, drainage, moisture and draughts.
If you increase the value of your investment, make sure it is healthy and compliant - then have your properties structured correctly the benefits could be significant you are going to be in good steed for the forseeable future. We have great strategic partners that we can put you in touch with if you would like to speak further about your investment structure/s.
We are already experiencing a shortage of rental properties; rents are continuing to increase and the median rent is setting new record highs each month. We are not expecting this to change and want to make sure our landlords at Click have all the information so that you are best protected.
If you would like more information and/or advice - don’t hesitate to contact Ashley or Andrea at the Click office.