Accelerating Household Electrification
The proposal includes 3 options to alter tax policy settings to promote electrification of rental properties, all starting 1 July 2024.
Option 1
Allow owners of residential investment properties to write off the full cost of split system air conditioners (up to 20kW), heat pump water heaters and induction cooktops against their taxable income, where these have replaced equivalent gas appliances. This would replace the existing depreciation schedules for these items (currently 12 to 15 years).
Implied budget cost of supporting rentals through investors' tax breaks
The request sought the following figures over the forward estimates and medium term:
Read moreImplied budget cost of supporting rentals through investors' tax breaks
The request sought the following figures over the forward estimates and medium term:
Read moreImplied budget cost of supporting rentals through investors' tax breaks
The request sought the following figures over the forward estimates and medium term:
Read moreImplied budget cost of supporting rentals through investors' tax breaks
The request sought the following figures over the forward estimates and medium term:
Read moreImplied budget cost of supporting rentals through investors' tax breaks
The request sought the following figures over the forward estimates and medium term:
Read moreImplied budget cost of supporting rentals through investors' tax breaks
The request sought the following figures over the forward estimates and medium term:
Read moreImplied budget cost of supporting rentals through investors' tax breaks
The request sought the following figures over the forward estimates and medium term:
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