In summary, residential investment properties capable of being used for long term accommodation would be subject to the proposed rules. However, the following exclusions and exemptions are proposed:
- an exclusion for the main family home
- exclusions for several types of residential property, and
- exemptions for new builds and for property development.
The following information sheets provide general information about how the proposed rules are intended to work:
- Interest deductibility proposals at a glance
- Properties not affected by the interest deductibility proposals
- How the rules work for certain entities
- Exemptions for property development and new builds
- How interest deductions are affected
- Changes to the bright-line property rule