Treasury Laws Amendment (Tax Reform No. 1) Act 2026 (49 of 2026)
Schedule 2 Limit negative gearing for residential property to new builds
Income Tax Assessment Act 1997
2 After subsection 110-38(8)
Insert:
(8A) Expenditure does not form part of any element of the cost base to the extent that section 26-155 prevents it being deducted.
Note: Section 26-155 denies deductions for the excess of residential dwelling related expenditure over residential dwelling related income.
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