You should all be aware of the Government’s proposal to limit the ability to offset tax losses arising from residential rental properties against other sources of income.

The draft legislation was introduced on 5 December and at a very basic level it should be straight forward.  However, as expected, the rules are actually quite complicated given they have to deal with not only the initial ring-fencing of deductions but also the carry forward and utilisation of those deductions in subsequent income years, and specific avoidance concerns such as interest on funds borrowed to acquire share capital which is then used to acquire a residential rental property.

Join us for an overview of the new rules and come to grips with the new formulas and terminology.

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