Changes to capital gains tax and negative gearing will make the strategy of renting in a preferred area while buying a cheaper property elsewhere less attractive, experts say
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Rent-vesting – a popular strategy used by young Australians to save for their first home – could be killed off by Labor’s tax changes on investment properties, experts warn.
Renters have used the strategy to keep living in their preferred area while buying a cheaper property elsewhere, hoping it will rise in price so they can sell and put the profits towards their first home.
Continue reading...Source: Guardian - World News
