PHOTO: ISTOCK – The Government is making property investment a less appealing proposition.
Investors say they should be given more time to adjust to changes that will limit their ability to claim tax breaks.
A bill that will introduce ring-fencing of tax losses for rental properties has been introduced to Parliament and is likely to get its first reading on December 12.
It means investors who run a property at a loss will not be able to claim that against their other income.
At the moment, if a rental property costs more a year to own than it provides in rent, you can use the difference to reduce your other income.
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