Federal Government passes legislation on build-to-rent tax concessions Build-to-rent legislation passed by parliament contains some welcome positive changes, balanced by continuing uncertainty on key issues. The legislation to enact the tax concessions for eligible BTR developments now awaits Royal Assent before becoming law. The legislation has three key elements: increases the capital works deduction rate from 2.5 percent to 4 percent where construction has commenced on or after 9 May 2023; reduces the final withholding tax rate on eligible fund payments from managed investment trust (MIT) investments from 30 percent to 15 percent where such payments are made on or after 1 July 2024; and introd... Sign in below or register now to read the full article |
Authors: Josh Cardwell, Scott Farrell, Tony Mulveney , Matt Ervin
Published Date: 29 November 2024 |
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