Phased tax rules faze investors, while rents go up

Investors are opting out of older homes due to tax changes. (Image: Depositphotos)

Thu, 12 May 2022

Tax deductibility changes are starting to bite for residential investors and those who earn a living from their rental properties. That’s as the initial phasing out of interest deductibility on mortgage payments starts filtering into 2021-22 financial accounts. Until now, interest on mortgages for residential investment properties could be claimed as a business expense.But from Oct 2021 through to the end of the just-completed 2021-22 financial year, and for the full current 2022-23 financial year, claims will be trimmed to 75%...

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