Some frequently asked questions prompted by our latest call for all investor to put in their submission for the proposed law change to ring-fence rental
tax losses are worth sharing.
Before we delve in, a reminder that this Thursday is the last day to make a submission to or against ring-fencing tax losses. This is too important an
issue for investors to stay silent on. Submission details and guide can be found here.
Now let’s get into the questions.
Q: I thought ring-fencing is a done deal?
A: No, not at all. There is still time to make your submission for or against. Submission closes 28th February 2019 and can be done here.
Q: Looks like you have linked the wrong Bill! Can you double check?
A: We did double-check and no, we did not link in the wrong bill. The Bill proposing to ring-fence rental tax losses (amongst other things) is titled the
Taxation (Annual Rates for 2019-20, GST Offshore Supplier Registration, and Remedial Matters) Bill. Note that it is s49 which refers to ring-fencing of rental tax losses. It would seem that many readers assumed that we had sent the wrong bill
for them to make submissions on simply because ‘ring-fencing’ is not mentioned in the name of the bill nor any section titles. The cynical side of
us could not help but marvel at the insidiousness of it all by burying what is arguably one of the most controversial tax law change in recent
times so deep inside a bill with an innocent-sounding name. If that isn’t a good reason for all investors to mobilise together to speak up, we don’t
know what is.
Q:...
