News
Good Real Estate News – The Henry Review
Date: 6 May 2010
The Federal Government has revealed its first response to the reforms proposed by the recently released Henry Tax Review. The 18 month review into Australia’s taxation system carried out by Treasury Secretary Ken Henry, made 138 recommendations to update the tax system, 28 recommendations rejected outright by the Rudd government and 5 accepted thus far.
Treasurer Wayne Swan has ruled out a number of the review’s recommendations, including changes to concessions on capital gains tax, negative gearing and land tax.
The Rudd Government has confirmed the family home will never be the subject to any form of taxation. Once again, great news to the industry and especially for all owners doing their best to increase the capital value of their home.
Also great news for the Landlord, to know that the Rudd Government has completely ruled out changes to negative gearing. It is estimated nearly 1% of tax payers has an investment property, amounting to a $700 billion investment. The potential to earn capital gain and reduce your losses against other income is still an outstanding way of building your net worth.
Listed below are links to some properties with excellent rental potential: