The budget has had little effect on property owners and investors. The only group that is affected, and it is small, is those letting their baches out on a part time basis. Instead of being able to claim up to 90% of the running costs, these will now be apportioned based on rental time used. Capital gains tax was not mentioned. The budget has been described as neutral and will have little, if any, impact on interest rates. A test for the budget, is whether the financial markets react. They didn’t. It is business as usual.
Sourced from General Finance Mortgage Commentary
