From 1 January 2018, resident individuals who invest in ‘qualifying affordable housing’ will be provided 60% capital gain tax (CGT) discount.
To qualify for 60% discount, investor must follow the below guidelines:
- Housing must be provided to low to moderate income tenants
- Discounted rent must be charged, below the private rental market rate
- Housing must be managed through a registered community housing provider, who will determine the tenant eligibility and rent charges.
- The investment must be held for a minimum of three years
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