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Capital gains tax, negative gearing, vacant property in Victoria and inherited homes: the rules are changing, and some changes start on 1 July 2027.
Our free checklist takes about five minutes. We never ask for property values or financial details.
Whether you bought before or after Budget night, whether a property counts as a new build, and the records and valuations you will need to separate gains made before and after 1 July 2027.
How the changes apply to property held personally, in a trust, a company or an SMSF, and why it is worth reviewing your structure, trust deed and investment strategy before acting.
Victorian land tax thresholds, the six-month vacancy test, the 15 February notification deadline and the holiday home exemption, plus what happens if a property sits empty during an estate.
Whether your Will and super nominations reflect the new rules, how a draft ATO determination could affect a home left to a testamentary trust or to someone living in it, and the time limit for selling an inherited home.
Prefer to work on paper? Download the printable checklist (PDF).
Choose the situations that apply to you: investment property, ownership structures, Victorian land or a Will or estate. If you’re not sure about something – there is an option to tick that too.
For each item, choose Yes, Not sure or Not applicable. It takes about five minutes, and we never ask for property values or financial details.
You’ll finish with a personalised checklist to use with your adviser, including what to bring and the key dates to watch. You can also have a copy emailed to you.
We are an independent tax and advisory firm. You work directly with senior advisers who know the detail of the new rules.
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We look at your property, structures and estate together, with our Andersen Global colleagues on hand if you hold assets overseas.
Anyone who owns an investment property, holds property through a trust, company or SMSF, owns Victorian property that is vacant, undeveloped or a holiday home, or has a Will or is an executor or beneficiary of an estate. If you are not sure which applies, tick “I’m not sure” and the checklist will show you every section.
From 1 July 2027, the 50 per cent capital gains tax (CGT) discount for individuals, trusts and partnerships is replaced with cost base indexation, and a 30 per cent minimum tax applies to capital gains. The new rules apply to gains that accrue from 1 July 2027. Investors in new builds can choose between the existing discount and the new arrangements.
Negative gearing is also limited to new builds. Losses on established residential property acquired after 7:30pm AEST on 12 May 2026 can only be offset against residential property income, not wages or other income. Property held before then is not affected.
The first stage of the legislation has passed. A second stage, covering matters such as transfers on death and the definition of a new residential dwelling, was released for consultation in August 2026.
Sources: Treasury, Budget 2026-27 tax system changes; Budget 2026-27, tax reform; Treasury Laws Amendment (Tax Reform No. 1) Bill 2026; Treasury consultation, tranche 2.
TD 2026/D1 is a draft ATO determination on when someone has a “right to occupy” an inherited home under a Will, which affects whether the main residence exemption from CGT applies. As drafted, the right may need to be granted expressly to a named person in the Will. Rights that arise through a testamentary trust or at a trustee’s discretion may not qualify.
It is still a draft and could change. As drafted, it would apply to income years both before and after it is finalised, so it is worth reviewing your Will now if you plan for someone to live in your home after your death.
Source: ATO, TD 2026/D1 (draft).
Yes. The land tax items cover Victorian land tax and vacant residential land tax, which now applies across the state. If residential land was vacant for more than six months in the previous calendar year, you must notify the State Revenue Office by 15 February, even if you expect an exemption.
Other states have their own land tax rules. If you hold property elsewhere, we can review those with you.
Sources: State Revenue Office, vacant residential land tax; State Revenue Office, make a notification.
The checklist never asks for property addresses, values or financial details. Your answers are used to show your results on screen. If you choose to leave your details, we use them to email you a copy and to follow up, in line with our Privacy Policy. Entries are deleted automatically after 24 months.