An additional CGT discount of up to 10% is now available for individuals who invest in affordable housing from 1 January 2018.
The conditions to access the additional discount are:
- the housing must be provided to low to moderate income tenants,
- rent must be charged at a discount below the private rental market rate,
- a registered community housing provider determines tenant eligibility and rent charges, and;
- the investment must be held for a minimum of three years.
The additional capital gains discount will be applied on a proportionate basis based on the number of days the property is used for affordable housing.
Source: CCH iQ Weekly Update
This is general advice only. Your personal circumstances have not been taken into consideration.
