Neg Gearing threat creates opportunity

02 Dec 2018| Posted by: Geoff Baldwin

With the prospect of a Labor government in 2019 looking almost certain and with Bill Shorten’s promise to abolish negative gearing on established properties now is a good time to buy according to RE/MAX WA MD Geoff Baldwin.

Although the abolishing of negative gearing on established properties is one of Shorten’s election mantras it will only apply to those purchased after the introduction of the new policy. Established properties purchased prior will be “grandfathered” and hence investors could be well advised to act now to secure these tax concessions ongoing.

Currently Perth and WA offers a literal smorgasbord of well-priced established stock and with an improving local economy, massive new resource projects announced, continuing low interest rates and a rebounding rental market investors could be well advised to take action now.