With median house prices continuing to push first home ownership further into the future for many Australians, renting longer term is now the norm rather than the exception for both Baby Boomers and Millennials.
Keeping your records up to date will ensure you pay accurate capital gains tax, and reduce the likelihood of receiving a hefty tax bill at a later date.
A change in negative gearing arrangements will put that at risk economic growth and cut the asset base of Australian households at a time when we need to facilitate further sustained growth in the housing sector.
While it is reasonable to review the fairness of the current negative gearing/capital gains tax arrangements, the Reserve Bank has indicated it would rather change capital gains tax arrangements than negative gearing.
