Rental losses law change coming 22 Aug 2018

The law is to be changed regarding rental losses.

For many years, investors in property have had a tax deduction, against their other income, for losses on rental property. Starting from 1 April 2019, residential property owners will no longer be able to set off their losses as previously.

They will have to accumulate them until sufficient profits have been made to wipe out the accumulated losses.

The details are yet to be worked out. For example, if you have several properties, some making profits and others making losses, will you be able to offset the losses against the rental profits? Also, under the current proposal, these rules are going to be applied to residential property and not commercial property.


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