The Government unveiled today, detailed tax rules for landlords first announced in March.
At present, Landlords can claim on the interest portion of mortgage payments from their rented properties. The new tax laws include exempting "new" builds and for owner-occupiers who rent out their rooms.
So what is classified as a "New" build? The Government has clarified, stating a home stays "new" for 20yrs after it receives it's code of compliance - the exemption will then cease beyond the 20yr point.
The exemption will apply to properties that received it's certificate of compliance on or after 27 March 2020.
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