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Federal election clarification

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Veggies | 22 May 2016, 09:23 AM Agree 0
Hi there wondering if someone can answer the following 2 questions regarding the federal election. If labour wins they will change negative gearing and CGT discounts on investment properties commencing July 2017 therefore:

- If I put down a deposit and proceed with purchase prior to July 2017, however don't actually have full settlement until after July 2017, will this investment be considered as a purchase with entitlements for post July or pre July?

- If I turn my current home into an investment property post July 2017, will it be considered for the the post July 2017 changes, or will it not because it was purchased prior to July 2017?

Hope that all makes sense.
  • Jaanam | 23 May 2016, 08:10 PM Agree 0
    Hi there....unfortunately I don't have the knowledge to answer your question but I have a pretty good feeling that labour will NOT win the election. So stop stressing.
    • Veggies | 24 May 2016, 09:47 AM Agree 0
      Hi Jannam, thanks for your reply - however I also thought that labour could not win until about 2 weeks ago when the polls seemed to change dramatically. Fingers crossed. Thanks!
    • Paul | 24 May 2016, 01:08 PM Agree 0
      For a start, is LABOR not Labour. And why should the rest of us being paying for the small minority of people who negatively gear? Bring on a Labor victory!
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